Banning Investment Banking In NYC

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This is the stupiest thing we've read all day.

"I wish I could pass some law restricting bonuses," said Councilman Charles Barron (D-Brooklyn), "or mandate that you have to give some money back to the people who made you rich in the first place."
The councilman called Blankfein's $53.4 million bonus, "capitalist greed at its worst." Goldman Sachs did not return calls for comment Wednesday evening.

This is pretty much tantamount to banning investment banking in NYC. Might as well just order the bankers off to Jersey City.
[Also, yes. This is from the same story we linked to earlier in AM New York. We just didn't notice it because we kept getting caught up in the part that quoted us.]
Big bucks on Wall Street stirs up outrage [AM New York]

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