There is Nothing that Wall Street Cannot Make Worse

Case in point, the housing crisis, where not only did they create the crisis, profit from it, and then get bailed out, but then they used their bailout money to raise rents for the rest of us:

Wall Street firms drove up housing and rent prices while depressing homeownership rates after the financial crisis, according to a new study of economic data.

The analysis from researchers at the Philadelphia Federal Reserve found that after the collapse of the housing market a decade ago, institutional investors such as Blackstone, Cerberus Capital and Golden Tree seized on the opportunity to buy up homes and convert them into rental units.

In all, the researchers found that institutional investors’ purchases of residential properties represented nine percent of the overall housing price increases since the crisis — and 28 percent of the decline in homeownership rates.

We need to stop the looting and start prosecuting.