Crypto Meltdown is a Great Time to Eliminate Waste in Bloated Financial Sector
BY DEAN BAKER
Photo by Maxim Hopman
I remember talking to a progressive group a bit more than a decade ago, arguing for the merits of a financial transactions tax (FTT). After I laid out the case, someone asked me if we had lost the opportunity to push for an FTT now that the financial crisis was over. I assured the person that we could count on the financial sector to give us more scandals that would create opportunities for reform.
Shortly after, we were rewarded with the trading scandal from the aptly named investment company, MF Global. It seems that FTX has given us yet another great case study of greed and corruption in the financial sector.
The financial sector was and is a happy home for those seeking big bucks and who don’t mind bending or breaking the r...










