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In light of the forthcoming Treasury Department plan to revamp regulation over the financial industry, some thoughts to ponder.

“The [financial] crises have revealed the public’s attitude toward many in the superclass, highlighting resentment at what is seen as a pattern of gaming the system, of getting rich on the way up and on the way down, of making taxpayer pay for their errors while being the primary beneficiaries of their gains. The political drum has started to beat again for more aggressive and vigilant regulation and for an end to obscene pay packages that reward private sector leaders, even if they end up screwing their shareholders, their customers, their employees, and the public at large.”

Preface to Superclass: The Global Power Elite and the World they are Making by David Rothkopf.

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