I don’t know if I can agree with the bold. (I do agree with most of the rest, even the deleted).
Who is wall street? All of us. Everyone with stock, a retirement plan, a mutual fund, etc. Are you voting your proxies? Probably not.
Even if you limited it to “Wall St Insiders,” what does that mean? Those with a license to trade? Institutional investors? Small investors? C-suite individuals of Fortune 500 companies? At every level mentioned, there are still way too many players and way too many competing interests to get at something unified as suggested when people think of illuminati or skull and bones or anything of that sort. (Not that you are implying the latter, which gets fantastic in the fantasy sense fast.)
I was using the term “Wall Street” figuratively to mean the big corporate and financial interests. In the US, and other places, but pronouncedly in the US, those interests are in control of the government. This is not speculation. There was a recent academic study which looked at legislative outcomes comparing the public interest to corporate interests.
As an anecdotal example, I would point out that corporate welfare for the huge is alive and well, while it’s a modified form of social darwinism for the individual and the small business person, by comparison. If you look at the revenue percentages for the US gov., there has been a steady shift of tax burden from the corporations to the individual tax payer, etc… Why should we allow corporate interests to spew their waste into our environment, and not include the cleanup costs in their cost of doing business? And, so on…
So, the title of this thread is a bit inaccurate. The US govt is not out of control. It is pretty well controlled. But it is controlled by the money interests, and not the individual voters. Where the idealogical split comes is over some of the individual rights issues, such as gay rights, abortion, etc… But these individual rights do not affect the corporate interests much, and the politicians use them to differentiate themselves from each other.
However, on the core economic issues, they are pretty much playing from the same playbook.
Consider that there were zero prosecutions as a result of the criminal activities leading up to the 2007-08 collapse. Contrast that with the fact that more than 3,000 people were prosecuted as a result of the S&L collapse. This is not a partisan issue. It’s a campaign finance and lobbying issue. Consider that Germany is an export economy (So, is Japan). NAFTA and similar agreements were designed to make hiring cheap labor outside the US safer for US companies, moreso than to open new markets for US companies. These are just a few examples of how the moral bearings of the country have been lost.
I do disagree with some Catholic positions on some social justice issues. However, I applaud Francis in bringing some of these financial issues into focus in his public addresses. Economic fairness provides educational, healthcare and social mobility opportunities (to name a few of the many). It is going to become increasingly important to address these issues.