Abstract

Taxing the Big Casino
Baker, Dean | May 9, 1994 issue

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News from the financial markets over the past few weeks makes it abundantly clear that Wall Street is terrified by the prospect of improving economic conditions for the majority of American people. Indications that three years of recession and jobless recovery are finally ending sent the stock and bond markets into a frenzy of bearish trading. Financial markets do provide an essential service by letting people convert investments easily into money. But this benefit must be weighed against the fact that trading has almost nothing to do with raising funds for investment.

See Also:

UNITED States -- Economic conditions; SECURITIES markets; BOND market; STOCK exchanges; SECURITIES industry; UNITED States
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