People lined up to oppose nuclear energy development often resort to an interesting argument to use against it. According to the frequently repeated line, nuclear energy investments are so risky even Wall Street is not interested. Here is an example quote from an article titled Senators warn nuke plan poses severe risk
Sens. Rob Hogg of Cedar Rapids and Joe Bolkcom of Iowa City are telling Iowans that nuclear power is too risky to attract Wall Street investors.
I have been following financial news for many years, with a particularly strong focus in the past five years. Wall Street loves risky investments with rapid payoffs; those are the kind that make quarterly and annual reports look good and result in enormous bonus checks for the traders.
The investments that Wall Street avoids are those that require patient capital, vision, and a desire to disrupt the status quo. Wall Street loves collateralized debt obligations, leveraged buyouts, and pooled, sub-prime mortgages.
I like the fact that Wall Street is not terribly interested in nuclear energy. It is an investment that benefits Main Street and the rest of us for whom steady earnings and growth are more important that amassing vast wealth for little effort.
It is also amusing to hear hard core left wingers like Harvey Wasserman using the “Wall Street does not like nuclear energy” argument. I always thought that people on the left did not like or trust Wall Street investors.