Chair of Financial Inquiry Committee Assails Wall Street’s Continuing 'Breaches of Ethics'
On the very day that Goldman Sachs executive Greg Smith announced his resignation in revulsion over how the firm is callously “ripping their clients off," Phil Angelides, chair of the nation’s Financial Crisis Inquiry Commission, expressed his continuing disgust with how Wall Street has become “a casino floor as big as New York, New York,” after wiping away $9 trillion of household wealth “like a day trade gone bad.”
Speaking at a Responsible Investment Forum of investors, pension fund managers and union and community leaders, convened in Los Angeles by Heartland Capital Strategies, Angelides assailed the financial system centered on Wall Street for “becoming a conduit for speculation rather than productive investment.”


