Wall Street’s empire strikes back in Treasury report

David Bell

October 10, 2017 05:00 PM

Steven_Mnuchin_PA_230x150 — United States Secretary of the Treasury Steven T. Mnuchin, gives testimony before the US Senate Committee on The Budget "on the President’s FY 18 Budget and Revenue Proposals Featuring Treasury" on Capitol Hill in Washington, DC on Tuesday, June 13, 2017. Photo by Ron Sachs / CNP/ABACAPRESS.COM | Sachs Ron/CNP/ABACA/ABACA/PA Images

A US Treasury report on capital markets, published on Friday, struck a populist tone, saying the rise of private credit at the expense of public market sources of financing has snatched money-making opportunities away from average Americans. But it is investment banking that has most to gain from a boost to public debt markets, not individual investors.

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David Bell