Schumer, Wall Street's "Go-To-Guy"

Not to be missed: Yesterday's lengthy NY Times article about Senator Charles Schumer, which explores his relationship with Wall Street—namely how he made sure to protect the industry industry "from government oversight and tougher rules, a review of his record shows... He has also helped save financial institutions billions of dollars in higher taxes or fees." (The article is part of the Times' "series...exploring the causes of the financial crisis.") Though Schumer touts himself as a middle class defender, his support of Wall Street and hedge funds goes way back. One financial industry executive amusingly summarized Schumer's reassurances during the bailout talks: "We are not going to be a bunch of crazy, anti-business liberals. We are going to be effective, moderate advocates for sound economic policies, good responsible stewards you can trust.”

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By Jen Chung in News on December 15, 2008 8:12 AM

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Sarah

Over the years, certain elite persons associated with Wall Street have become famous. Although their reputations are usually limited to members of the stock brokerage and banking communities, several have gained national and international fame. Some earned their fame for their investment strategies, financing, reporting, legal or regulatory skills, while others are remembered for their greed. One of the most iconic representations of the market prosperity is the Charging Bull sculpture, by Arturo Di Modica. Representing the bull market economy, the sculpture was originally placed in front of the New York Stock Exchange, and subsequently moved to its current location in Bowling Green. To read more about this topic, chehk out at: http://personalmoneystore.com/moneyblog/2009/03/12/madoff-pleads-guilty/

Sarah

Over the years, certain elite persons associated with Wall Street have become famous. Although their reputations are usually limited to members of the stock brokerage and banking communities, several have gained national and international fame. Some earned their fame for their investment strategies, financing, reporting, legal or regulatory skills, while others are remembered for their greed. One of the most iconic representations of the market prosperity is the Charging Bull sculpture, by Arturo Di Modica. Representing the bull market economy, the sculpture was originally placed in front of the New York Stock Exchange, and subsequently moved to its current location in Bowling Green. To read more about this topic, chehk out at: http://personalmoneystore.com/moneyblog/2009/03/12/madoff-pleads-guilty/

NannyState

Good for the Times. Time to push this flaming piece of shit over the side.

grandzu

I bet Schumer will eventually create a fund to assist Bernard Madoff's clients.

fugothamist

f*ck chuck

Bubba

Schumer never met a billionaire that he didn't like. Wall Street Über Alles!

numbertwopencil

...Better Democrats needed soon...

Yup. Schumer has been a key enabler for the blockheads. And he's going to be hard to defeat, esp. with Emmanuel running the show. In some ways, he's been worse than Lieberman because he much more effective at acting all liberal and then, when it matters, like the Mukasey vote, voting the wrong way.

Splicer

Obviously a politician who thinks that only the "little people" need to pay taxes which then are turned around and sent off to Wall Street with no oversight.

Better Democrats needed soon.

WesleySnipesAlot

"sound economic policies" is shorthand for "best interests of big businesses." Also, Campbell Brown is way hot in those pics... too bad she is a pompous windbag.