But Dodd-Frank was neither an FDR-style, paradigm-shifting reform, nor a historic assault on free enterprise. What it was, ultimately, was a cop-out, a Band-Aid on a severed artery. If it marks the end of anything at all, it represents the end of the best opportunity we had to do something real about the criminal [...]
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Maybe I should call up that Obama fellow and ask for a few hundred more billion dollars So why isn’t the White House rushing to nominate her for the position? In a word: fear. This time, it’s not the ire of Glenn Beck that has Team Obama’s backbone turning to mush — it’s [...] Firedoglake and Clusterstock detail its mostly tepid provisions. Oh gosh, you mean the consumer protection agency will be part of the Fed. Surely, we will protected now. Blanche Lincoln’s attempt at serious derivative regulation got whacked. Look, it’s being dubbed the Dodd-Frank bill, and both those senators are notorious for being Huge Champions of the [...] Liberal and progressive blogs are in a tizzy today because Blanche Lincoln won her primary and will presumably remain a senator. Yup, she’s bad on labor issues. But she’s really hardball on financial reform, saying the banksters should spin their derivative businesses off into subsidiaries. And she may have the clout to make that happen. [...] NY Times weighs in on financial reform: “loopholes.” Too many derivatives trades are exempted from public disclosure on exchanges. Too many users are subject to relaxed scrutiny. Regulation in hindsight is not adequate to prevent systemic collapse. It is not clear in the reform bills if synthetic CDO’s would be traded on exchanges and subject [...] Unlike the rabble-rousers in the previous post, The New Decembrists seeks social, legal, and economic justice by working within the system and reforming it. It was started by financial insider Epicurean Dealmaker and named after an Imperial Russian Guard revolt in 1825. The loyal soldiers who became know as the Decembrists held many divergent [...] |  | ||||
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