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The Stock Market Who Cried Wolf

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"My general rule of thumb is that we should generally ignore what Wall Street has to say about financial regulation," writes Daniel Gross at Slate. "For the past several decades, Wall Street has continually told Washington that if the Street can't do things the way it always has, and if the government changes the rules to mandate greater transparency and customer protection, that the geniuses in Lower Manhattan won't be able to make money, and it would stunt the industry. They've been wrong every time."
SOURCE:   Slate

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