Wall Street traders redistribute wealth to themselves

Published: Thursday, Nov. 7, 2013 - 8:11 am

Re "SAC to plead guilty, pay U.S. $1.2 billion" (Business, Nov. 5): The large Wall Street firm, SAC Capital, pleads guilty to insider trading violations -- criminal conduct. Wall Street bankers and traders are the kings of wealth redistribution. They redistribute wealth to themselves. They produce nothing and provide no service of value to main street. Rather the opposite; Wall Street traders and investment bankers merely skim money off the top of our economy in astronomical proportions.

-- Larry Braybrooks, Fair Oaks

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