For too long, the Wall Street economy has run rough-shod over the regular families who make Connecticut what it is. Risky gambling has already brought the economy to its knees. It’s time to rein in the most dangerous and abusive practices on Wall Street.
After decades of deregulation led by Wall Street lobbyists, we’ve seen the results: A too big to fail culture that rewards the high stakes gamblers and hurts ordinary families. It’s time for a change.
On Wall Street, complicated financial products and highly leveraged deals abounds shaking the foundations of our economy. On Main Street, subprime mortgages, payday loans and other dangerous financial products proliferate without regulation and drive working families deeper into debt. It’s clear that Wall Street and the big banks can’t regulate themselves.
Meanwhile, the huge bonuses and profits for Wall Street firms are back to normal, while the economy is still floundering.
Working Families supports reforms to protect consumers from dangerous financial products and to put checks on the power of a few big banks to endanger our whole economy.