Source: The American Prospect
by David Dayen
“For the past year, it felt like we were a long way from the moment in Congress when Sen. Dick Durbin (D-IL) lamented that big banks ‘own the place’. As the Trump administration took power, a pitched battle emerged between the financial industry and Silicon Valley on a range of issues, and the tech oligarchs, with better connections to MAGA-world and more ability to enrich the Trump organization directly, seemed well positioned to win. The power center seemed to be shifting away from its traditional roots. But Wall Street didn’t become Wall Street by losing its ability to capture the government. A scuttled markup on a bill with major implications for cryptocurrencies shows that reports of the demise of big banks are greatly exaggerated.” (01/19/25)
https://prospect.org/2026/01/19/wall-street-strikes-back-crypto-banks/