Thursday, April 14, 2016

Bankers for Bernie

They may be rare, but they do exist.
In 2014, Michael Lewis’ book Flash Boys: A Wall Street Revolt helped to “pull the scales from off my eyes. It showed me that the regulatory structure was rigged and I could no longer ignore that,” [said Wade Black, COO at the boutique investment banking firm Scarsdale Equities.]

Black said he did not mindWall Street becoming a target of Sanders’ invective. He’d continue supporting the candidate, he speculated, “even to the extent that Bernie’s reforms meant I lost my job”.

[...]

Paul Ryan, a fully signed-up member of that elite club, Bankers for Bernie [is] a managing director at Tripoint Global Equities, an investment bank that works with small businesses.

[...]

“New Yorkers are particularly well positioned to see how the rich are screwing over everybody else. You just have to look at real estate prices – people will take a look at what’s happening across the city and a certain number will be disgusted by it: Bernie speaks to them,” he said.

[...]

For the Bankers for Bernie [...] Clinton’s talk about toughening up the regulators and empowering prosecutors doesn’t go far enough. He may be an investment banker himself, but Ryan prefers Sanders’ pledge to begin breaking up the banks in his first 100 days in the White House over Clinton’s more indirect promises.

“She has a thousand talking points, but when the lights are turned off and all the glare of the election fades, politics-as-normal will return, the lobbyists will get to work, and nothing at all will happen,” he said.

[...]

Ryan admits there is an element of self-interest in his support for Sanders in that his investment firm depends on the financial health of its clients who are hurting. But he also insists that his unusual position as a financier who wants to see major change on Wall Street comes from something more fundamental in him: “Conscience. I have a conscience. We have gone so far down the road of Reagan economics we’ve ended up in downright cruelty. That’s why Bernie must win.”

  The Guardian
I would like to see Bernie become president just to see if it is even possible to reverse direction at this point.

P.S.  If you haven't read Flash Boys, I recommend you read it.

...but hey, do what you want...you will anyway.

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