Sunday, January 10, 2016

Wall Street readies itself for the slings and arrows. Banks have lined up behind candidates like Jeb Bush to seek shelter from Democrats.

Crain's New York reports:
Bernie Sanders aimed his fiery rhetoric at Wall Street last week, accusing America’s financial titans of using fraud as a business model. It’s unlikely the Vermont senator will ever be president, but it wouldn’t take much for the political climate to turn hostile again toward the biggest cog in New York City’s economic engine, especially now that the stock market has gotten stormy.

Even Hillary Clinton, whom Sanders berates for being too chummy with Wall Street, says she wants to eliminate one of its favorite things: a loophole that taxes money managers’ pay at the advantageous capital-gains rate rather than as ordinary income.
New York may have less money coming in.