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Schumer, Wall Street's "Go-To-Guy"
By
Jen Chung
Published Dec 15, 2008
Modified Dec 15, 2008
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By
Jen Chung
Published Dec 15, 2008
Modified Dec 15, 2008
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Not to be missed: Yesterday's lengthy NY Times article about Senator Charles Schumer, which explores his relationship with Wall Street—namely how he made sure to protect the industry industry "from government oversight and tougher rules, a review of his record shows... He has also helped save financial institutions billions of dollars in higher taxes or fees." (The article is part of the Times' "series...exploring the causes of the financial crisis.") Though Schumer touts himself as a middle class defender, his support of Wall Street and hedge funds goes way back. One financial industry executive amusingly summarized Schumer's reassurances during the bailout talks: "We are not going to be a bunch of crazy, anti-business liberals. We are going to be effective, moderate advocates for sound economic policies, good responsible stewards you can trust.”
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business-friendly
schumer
senator charles schumer
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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