We have entered a new era of financial capital.

Stock trading companies have figured out how to avoid the regulations on big banks.

In the last two decades, new trading companies have surged past banks like Goldman Sachs

due to new technology for electronic trading.

We need a new system. We need a new system.

We need a new society.

We need to demand that which may have sounded impossible even a few weeks ago,

but is not only realizable, but an imperative necessity. We are excited to have Professor Richard Wolfe join us again for our regular weekly segment

where we talk about the biggest stories related to the economy, the state of the working class, and the crimes of big business.

I'm your host, Brian Becker.

The Socialist Program brings you content several days a week, thanks to the support of our patrons

at patreon.com forward slash the socialist program.

We appreciate all of your support and encourage you to become a patron today if you enjoy

listening to this show.

Richard Wolf is the co-founder of the organization Democracy at Work,

the author of many books, including Understanding Capitalism, which is now available at

Democracy at Work.Info. Richard Wolf, welcome back. Thank you very much, Brian. Glad to be here.

I'm looking at the article, Richard. It's in the Financial Times. New Titans of

Wall Street, how trading firms stole a march on big banks. I'm going to read a little bit to you and to the

audience and then get you to comment. In Manhattan, Goldman Sachs and Jane Street are separated by a street, a century,

and a 160% average pay gap. Goldman and its rival investment banks were once the titans of trading,

meaning stock trading. Now it is Jane Street that paid an average of over $900,000 per employee last year to Goldman's $340,000.

...