Abstract
The political gravitational pull of Wall Street and the City has given the banking and financial sectors continued leverage to make predatory sub-prime loans, to prevent the restoration of usury laws limiting interest rate charges, and to increase debt-to-capital ratios once thought dangerous and even lethal. Even post-Dodd-Frank, there is no firewall between investment and commercial banks, hedge funds and private equity firms remain unregulated and can legally access pension funds, and derivatives are again widely traded despite the meltdown they caused during the crash of 2007–2008. Meanwhile, banks have gotten even bigger than they were when they were too big to fail, avoiding antitrust laws that might have prevented the crises of 2007–2008 had they only been invoked.
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Luzkow, J.L. (2018). The Rise and Rise of Wall Street and the City of London. In: Monopoly Restored. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-93994-0_3
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