Wall Street

Representative Barney Frank, co-architect of t...

Representative Barney Frank, co-architect of the Act (Photo credit: Wikipedia)

Too big to fail
Too big to jail
Breaking up is hard to do
But it’s past due
Split the banks
Reinstate Glass-Steagall
Dodd-Frank is
Too little, too late
The Chinese wall between
Banking and investment banking
Never worked at all
Too big to fail
Not too big to nail
Not too big to jail
Save us from the banksters
And their 1% overlords.

Bet big and lost

Bottom of Wall Street from FDR

Bottom of Wall Street from FDR (Photo credit: SheepGuardingLlama)

In 2008, Wall Street split its political contributions between the GOP and the Democrats somewhat equally. In 2012, political contributions went mostly to Mitt Romney and the GOP. After the 2008 election, Wall Street was the recipient of much government largess paid for by the taxpayer, and financial reform in the Dodd-Frank law didn’t go far enough to halt abuses. This time Wall Street picked the wrong horse to bet on. I hope that too-big-to-fail will become a thing of the past and that Dodd-Frank will be greatly strengthened.