Photo by Todd_Cliff
After an era of innovation in financial services that benefited the middle class, The Street has abandoned individual investors in favor of big institutions and wealthy private traders. It's time for big changes.
It's not just that Wall Street's newest inventions -- collateralized debt obligations and asset-backed commercial paper and the like -- are irrelevant to the stuff we care about, like having enough for retirement. Wall Street's actions seem positively dangerous to our goals.
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