The Wall-Street Whacker
In addition to confirmation hearings, Senate Banking Committee Chairman Brown (D-OH) has convened three hearings in just about the same number of weeks tagging Wall Street as his villain in chief.  In his opening statement at last month’s hearing on rebuilding Main Street, Sen. Brown immediately blasted Wall Street for excluding small and minority-owned businesses, arguing it only measures success by the performance of the stock market rather than workers and communities.  The second anti-Street hearing last week (see Client Report REFORM201) blamed Wall Street for over-complex financial products, predatory lending, favoring capital distribution over capital formation, and a good deal more.  The third one fingering Wall Street this week is entitled “Who Wins on Wall Street? GameStop, Robinhood, and the State of Retail Investing.”