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May 4, 2010

Wall Street Plays Hardball

-- by Dave Johnson

Wall street plays hardball - just ask Eliot Spitzer about that.

And now you can ask certain members of Congress, too. You mess with (threaten to apply sensible financial reforms on) the power, the power messes with you back: Members of Congress Bet Against Stocks in Year of Financial Crisis - WSJ.com.

This isn't just a news story, this is Wall Street sounding a warning shot at members of Congress. If you try to pass reforms that limit our bonuses, you are going to be in the fight of your life.

That's what happened to Eliot Spitzer. Here he is in 2002. Here he is in 2003. Then, Wall Street salivating over Eliot Spitzer's downfall. How many private detectives do you think it took?

Posted by Dave Johnson at May 4, 2010 6:03 PM


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