TITLE

WALL STREET'S NEW GILDED AGE

AUTHOR(S)
Ferguson, Niall
PUB. DATE
September 2009
SOURCE
Newsweek;9/21/2009, Vol. 154 Issue 12, p52
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The author discusses the banking industry in the U.S. in 2009 and says that even though large banks caused the 2008 and 2009 global financial crisis, they have recovered quickly in 2009, while ordinary people continue to face foreclosure and unemployment. The author claims that government handled the crisis poorly by giving large bailouts to failed banks and making taxpayers pay for it. This strategy has allowed banks like Goldman Sachs and JPMorgan Chase to continue growing without any consequences.
ACCESSION #
44194125

 

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