Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
Now-Chair Janet Yellen fretted about wrong incentives created by Wall Street pay structure. Many underestimated the effect of the Lehman Bros. failure. These and other insights come from Fed meeting transcripts, released Friday, of that tumultuous year.
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