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Forum Post: 20% of every dollar made in this country goes to Banker Compensation

Posted 12 years ago on Nov. 6, 2011, 2:49 p.m. EST by fixwallstreetnow (42) from San Francisco, CA
This content is user submitted and not an official statement

There is a huge moral hazard in this country in high finance. 30% of all business and corporate profits in the US go to around 10 banks. Then, on average 44% of this revenue is given out annually in bonuses and high salaries to bankers.

Inadvertently 15-20% of every dollar made in this country is going to the hands of someone on Wall Street. If you add in hedge funds, its even more scary.

These guys are trading unregulated derivatives and using YOUR MONEY to lever up 35 times. In laymans terms they take your $1000, go in with $35,000 and hope they win. When they lose you have MF Global losing a $600 million of customer money and the 2008 financial crisis. When they win you have people like John Paulson making $4.5 billlon PERSONALLY in 2010 (of course with inside knowledge through his illegal relationship with Goldman).

These guys own your money, gamble with it, and siphon all the profits in an unregulated, government backed system. Its heads they win, tails you lose.

Unless unregulated finance is stopped the whole economy is at risk.



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[-] 1 points by fixwallstreetnow (42) from San Francisco, CA 12 years ago

The regulation of finance is the most important thing that OWS can acheive.