...sweeping Wall Street right out of business.
Obama and the Democrats now own THE GINORMOUS DEPRESSION!
LOL. Not a chance. Those of us who are in this game are smart enough to figure out how to play a changing landscape. There are ALWAYS opportunities to make money.
The higher capitalization requirements for banks, for example ... that money won’t be parked in cash, it will be parked in cash equivalents such as commercial paper, short-term bonds and bank products. That provides a host of opportunities for commercial banks to issue new products and earn underwriting fees (it is, for what it’s worth, better for the country because it inherently lowers the leverage ratio financial institutions can use to magnify returns). Not to mention there are asset managers that will make money on the increased money market funds, they will need to hire secretaries and janitors ...
If there is one things we are very, very good at it is generating cash. Give us more credit ;)