Former Mayor Ed Koch teamed up with Assemblyman — and, more importantly congressional candidate — Rory Lancman earlier today to criticize Wall Street and call for additional regulations. Standing in front of J.P. Morgan’s headquarters on Park Avenue, Mr. Koch was particularly aggressive on the topic.
“I don’t believe anyone who doesn’t believe there wasn’t criminality on the part of some,” Mr. Koch declared about the 2008 financial crash. “Not a single CEO of any major corporations has been pursued criminally, what the hell is going on?!”
“The President in his State of the Union address said he wants the Attorney General to look into it,” he continued. “Has he? Have you seen any announcement of anybody being pursued? I haven’t!”
Mr. Lancman was a little more moderate in his call for strengthening financial regulations, but still managed to blast the “casino culture” of Wall Street.
“It’s important to note, the 2008 financial meltdown that shook the global economy and threw millions of Americans out of work, wasn’t an accident,” he contended as an increasingly large crowd gathered to watch him and Mr. Koch speak. “It was the natural and predictable consequence of deliberately lax regulations and oversight and a casino culture and championed speculation for speculation’s sake.”
Mr. Lancman is currently campaigning for an open congressional seat in northeastern Queens. His two main opponents in the Democratic primary are Councilwoman Elizbabeth Crowley and Assemblywoman Grace Meng. Doctor Robert Mittman is also apparently in the race.
Watch today’s event below: