Finance in the Public Sphere

The theoretical purpose of finance is to channel money from those who have it to those who need it for productive means, be it opening up a factory or buying a new car so that one can travel to a better job, sadly however, reality rarely reflects reality. The current construction of financial markets and the motives of those within them serve only to increase the income disparity in the world. Instead of funneling capital into productive channels where real gains in output can be made, but what we have is in the words of Paul Krugman, "a vampire squid on the face of humanity, sticking its blood funnel into anything that smells remotely like money." I will be looking at the systemic problems present within the financial system and way of correcting them through governmental and extra-governmental organizations. I want find ways to take the financial system from its current toxic place and move it into a place that actually brings benefits the american poor and middle class instead of squeezing them dry. I will be following several sources such as The Baseline scenario, Gin and Tacos, Calculated Risk Paul Krugman, Planet Money, The Financial Times, The Wall St. Journal, as well as many more that I am sure to find I more deeply explore the subject area and uncover experts.