Wall Street WTF are they Doing?

I have watched with fascination as Wall Street seems to live in an alternate plane of existence from the rest of us, “little people.” Bad economic news? No problem, the stock market booms. I have shaken my head more than once, until I heard a very reasonable explanation for this weird “herd” mentality. An expert said that Wall Street unlike other small businesses can “adapt” more easily to new and restrictive government regulations. They just figure out “work arounds”, new schemes or create new products to skirt the new regulations.

Lets not forget Default Swaps, Hedge Funds and the bundling of high risk loans that were then sold to the federal government or funneled through the FHA.

Small businesses that find themselves hampered, hog-tied and bogged down by compliance with newer and ever more restrictive government regulations from the ever expanding alphabet soup of agencies, cannot not financially compete or keep up. They generally end up closing or cutting back over-head by laying off workers. Workers I might add who need their jobs…

On the other-hand, Wall Street can always find “creative” ways to work around those same restrictive regulations with the help of the SEC, who tends NOT to do their jobs and may I say, Wall Street tends to not only survive but thrive in spite of said new and restrictive regulations. Big banks can also survive due to easy and cheap money from the Fed and then they can always depend on their comrades in the Fed system that will bend over backwards to make sure they not only survive on OUR dime, but also thrive due to cheap and easily gotten money.

With the new announcement that there MAY be a 3rd QE program in September, the stocks went up. Why? Well to my untrained eye it looked like a win/win for Wall Street & Banks. They will be the ones who benefit from ANY bailout, not you and I. Its a no-brainer for them, after all the only firm to feel the heat in the last downturn was Lehman Bros. and one has to wonder if that fall from grace was purposeful for some reason. It seems odd that the other “bad actors” in the industry go gang busters, get billions of “secret money” paid for by the tax payers and yet Lehman is let to go bankrupt? Trust me it smells like pay back to me…again to my decidedly untrained eye…

I am certain, that the financial wonks and experts will tell me that I have this all wrong, they will have some intellectual or financial rationale for what happened…to which I respectfully say…bullshit…Here’s what I live by…if it walks like a duck and sounds like a duck, its a duck…here’s another on..a rose by any other name is still a rose.

We as taxpayers and voters have been HAD by the powers that be…


About KellyAnn Hicks-Digby

My hubster & I have been married for almost 35 yrs (seems like yesterday). We are empty-nesters with 2 handsome sons & 2 beautiful daughters-in-law. We also have a large adopted family that are very special to us! I am a not-so-perfect Christian-in-the-making, a wife, a mother, professional Chef, writer & paralegal. I went to college at 50 and graduated with my Bachelors degree 4 years later. We moved to S.C. 7 years ago and love our new home and the Southern culture and our friends and family. I love chocolate, cheesecake and putting a smile on folks & family's faces by creating special meals and sweet treats for them. My passion is to find the best darn chocolate and eat it all! Life cannot & should not exist without great chocolate! Life is short eat dessert first! Till next time ya'll!
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