Do you agree that on balance, Wall Street does more harm than good to society? (Cassidy...

Do you agree that on balance, Wall Street does more harm than good to society? (Cassidy article)?

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Expert Solution

Ans: Wall Street: It is the worldwide symbol of high finance and investment. It is the trading hub of the biggest financial markets in the world's richest nation. The core purpose of Wall Street is to link people with capital that needs to be put to work with people that need capital in order to work. But still, there are some important facts which suggest that wall street is harming society.

It is extracting more fees, commissions, and charges from its customers.
Wall street transgressions are disappointing because they fall short of our expectations of fair dealing and honesty.
It is widely blamed for triggering a recession in 2008 by using extreme leverage and taking undue risks.
Wall street is criticized as it practice unfair trade.
It is considered to be scandal-plagued eg yahoo suffers from the volatility and exploitative practices.
It makes an individual bankrupt.
Wall street influenced by political factors.

keosha answered 2 months ago

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