Jason HartmanCEO of Empowered Investor and Real Estate Tools

The Dark side Of Wall Street!

Name: The Dark side Of Wall Street!
Uploaded: 2023-10-16T18:12:30+00:00
Duration: 45 s
Channel: Jason Hartman
Description: In this monologue, the speaker advocates for dramatically reduced regulation and government involvement in the financial sector. He argues that major…

16 Oct 2023 · 1 min

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In this monologue, the speaker advocates for dramatically reduced regulation and government involvement in the financial sector. He argues that major Wall Street firms, exemplified by Goldman Sachs, have built protective moats through heavy regulatory barriers, which eliminates competition and stifles innovation. The lack of competition, he claims, results in a dearth of startup culture and product development within banking compared to other industries. He posits that deregulating Wall Street would unleash a "Cambrian explosion" of new financial companies, fostering greater competition, innovation, and broader capital formation.

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I'm in favor of much less regulation and much less government. But the way the capital formation works. Think about Wall street and think about how little startup culture and how little innovation we really have on Wall street compared to other parts of business and product development. There's tons of innovation everywhere you look. It's because these big players like Goldman sucks. They've built a moat around their business and nobody can compete with them because of the high regulatory barriers. And so they just don't have any competition. And if they had, competition would be more widely dispersed. There would be a much bigger Cambrian explosion of companies if there was allowed to be more startup culture on Wall street and in banking. And the way to do that is to deregulate it.