On the one hand, I despise the demonization of “Wall Street” as some kind of punching dummy for politicos. In this instance, both sides are doing it – Pingree, shamelessly – this ad, by default. By pointing out Pingree’s hypocrisy, the ad takes the default position that these associations with Wall Street are bad in and of themselves.

On the other hand, if a politicians is blatantly hypocritical and clearly playing populist class warfare games while living off the very hog she says need slaughtering, then it needs to be pointed out.

Republican as it gets plus I got my portfolio of blue chip stocks. I am totally pro business but lets clear about several things that really get my goat about Wall street and what passes as capitalism in the Big Apple.

1. I am quite irritated that Wall Street made billions off peddling the offerings of Fannie and Freddie. What gets my goat the most is that some on Wall Street knew Fannie & Freddie were a house of cards yet they kept selling common and preferred offerings. Perhaps what gets me the most is how Wall Street puts such huge amounts of money into democratic candidates to keep the Fannie Freddie money machine going during the 2001- 2008 period. Chris Dodd–Barney Frank-Chuck Schumer were bought and paid for.

2. I also dislike how Wall street biggies piled money into democratic (and republican candidates) during this same period to curry favor with oversite committees. Wall street firms used 80-1 capital ratio to grow to unreal sizes while regulators and oversight committees slept. Ultimately the too big to fail firms got their bailout. Their political contributions were very worthwhile.

Not the place for a post on financial reform. Suffice to say I believe Fannie and Freddie need to die a natural death and exit over time the mortgage business. Lets return the home mortgage business to Main street and not Wall street or K street (DC home of Freddie & Fannie).

So for me Wall street is as much about distorting the capitalist system as capitalism itself