Is Wall Street Really the Heart of Capitalism? Blaming the wrong people for 2008 SEPTEMBER 24, 2013 by DOUGLAS FRENCH The other night I tuned into The Flaw , a 2011 documentary about the 2008 financial crash. While telling the crash story, the movie flashes in and out of a street tour offered by an ex-mortgage bond trader. The young man has the required effervescence to keep a dozen tourists entertained while they look at nothing more interesting than office buildings. He cleverly lets members of his tour touch a toxic asset. Well, a page of the legal document of a collateralized debt obligation (CDO), anyway. The camera pans to tourists taking pictures next to “ Charging Bull ,” the 7,100 lb. bronze sculpture closely associated with Wall Street. The guide starts his tour saying what has become a worn out cliché. “Welcome to Wall Street; this is the heart of American capitalism.” But is Wall Street really the heart of capitalism? If we understand capitalism as a so
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