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By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. (MarketWatch) — Memo to the Super Rich, your high-paid lobbyists and your no-compromise political puppets whose sole mission is destroying the presidency: Yes, you are succeeding. You’re also killing the economy. Thanks to your self-destructive ideology, America is now in the second of back-to-back Lost Decades. A new one on the heels of the 2000-2010 Lost Decade where Wall Street lost more than 20% inflation-adjusted. Get it? You guys launched America’s second Lost Decade of 21st century.
4. Wall Street still doesn’t get it In a recent Foreign Policy article, William Cohan, a former J. P. Morgan Chase managing director and author of “Money and Power: How Goldman Sachs Came to Rule the World,” warns Wall Street not only learned nothing after the 2008 meltdown, they’re aggressively lobbying to kill all reforms that might “break this dangerous cycle in which bankers and traders get very rich while the rest of us suffer from their mistakes.” Wall Street is deaf, blind and myopic, wants no limits on “all manner of bets on the market,” even at the “risk of a U.S. recession.” Only a catastrophe will wake Wall Street.