Republicans and Democrats alike are blasting Wall Street for being too big to fail, rampant “fraud,” and absent of any ethics, leaving the industry wondering how to respond.
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Reposted from News by FinTech Collective
Republicans and Democrats Agree: We Hate Wall Street
Some bankers, including those at J.P. Morgan Chase & Co. and Citigroup Inc., are fed up enough with what they consider inaccurate portrayals that they are encouraging a trade group to reach out to candidates, according to people familiar with the matter. The Financial Services Forum has held talks with its members about whether to engage with advisers from the presidential campaigns to detail how their industry has gotten smaller and safer since regulations were implemented after the 2008 financial crisis, the people said. The forum represents 16 of the largest financial institutions, including Morgan Stanley, Goldman Sachs Group Inc. and Bank of America Corp.
