In 2009, as unemployment hit its highest level in seventeen years, Morgan Stanley paid its employees over fourteen billion dollars. Goldman Sachs paid out over sixteen billion. In 2010, bonuses were even higher. For decades, the American financial system was stable and safe.
But then something changed.
The financial industry turned its back on society, corrupted our political system, and plunged the world economy into crisis. At enormous cost, we’ve avoided disaster, and are recovering.
But the men and institutions that caused the crisis are still in power; and that needs to change.
They will tell us that we need them, and that what they do is too complicated for us to understand.
They will tell us it won’t happen again.
They will spend billions fighting reform.
It won’t be easy, but some things are worth fighting for.
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