Originally Posted by alkemical
It's an example of how it's not a "free market", it's a private market that's wanted.
Economic theory says that one of the basic elements of a free market is transparency. Yet Wall Street's fighting tooth and nail against a process that would allow more transparency in the derivatives market. They don't want transparency - and that means they don't want a free market.
We haven't had a free market for decades. We've had a lootocracy that makes money through deception, confusion, and obfuscation.
People should conduct their business in the light of day - and gambling with other people's money should be illegal. The words "free market" and the phrase "Wall Street" don't belong in the same paragraph, much less the same sentence.