This isn't a free market. It is rather one of the most complete instances ever of savvy businessmen capturing a state and the minds of the people who run it. Is this really what the president seeks to endorse?
Wall Street badly needs fixing. Fortunately we have the tool to do the job. It's called a financial transactions tax (FTT) - a modest tax on trades of stock, futures, options and other financial instruments.
The Obama Administration recently announced pay limits for bailed-out CEOs. But unless the IRS changes its policies, taxpayers will continue to subsidize unreasonable compensation paid by publicly held corporations.