Economics
Wall Street Begs Washington to Act, Despite Fears of Aftershocks
- Government stimulus would help lift consumer spending
- ‘We need to do more’ for the under-served, Schlosstein says
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Wall Street’s top bankers are urging Washington to hurry up and expand federal spending, even as they acknowledge that doing so will add to a tab that will take decades to pay down.
Finance executives, who say their industry received a lopsided benefit from the first waves of government support, say that high unemployment will stunt growth -- and even create ripple effects into the financial system -- if Congress doesn’t do more to prop up the economy.