Summary

Cohan begins his introduction by stating that the current conversation about Wall Street has become “hyperbolic, supercharged, entrenched, and polemic” (i). He notes that it is not always clear what “Wall Street” means. It could refer solely to a geographical location, to a collection a large investment banks, or include smaller banks as well. A definition could extend to the entire finance community, including other types of institutions, in New York or throughout the world. Beyond this, conventional opinion argues that Wall Street is the source of incredible greed and excess. This opinion is particularly salient in statements by Vermont Senator Bernie Sanders, who constantly argues that Wall Street banks have become too large and its bankers are glorified gamblers who rely on the promise of a taxpayer bailout if their system collapses.

In contrast, the author argues that Wall Street and the services...