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The New Wall Street and the High Cost of Manipulating Money
Writing at The Independent Review, Senior Fellow George Gilder diagnoses the central problem with Wall Street and big banks today, which he calls “the chaos of floating currencies.”
Banks used to help companies of all sectors and sizes, but the new Wall Street favors regulatory overreach, costly litigation, and financial volatility that paralyze Main Street and Silicon Valley. The transformation of American banking and finance arose from a regime of excessive financial regulation, which in turn has roots in the government’s manipulation of money.