... in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression. Full Story »
Posted by Kaizar Campwala
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A strong critique of Obama's financial regulatory plan. Worth reading to understand how Obama's plan falls short of a comprehensive overhaul, but it doesn't go in depth on why the administration didn't go more more robust regulation, and whether what they're proposing will be good enough. Look to the linked stories for more of that kind of analysis.
The plan places enormous trust in the judgment of the Federal Reserve — trust that critics say has not really been borne out by its actions during the Internet and ... More »
This is a much better article than many I've seen on these "sweeping" reforms. It's much better than Justin Fox's description over at Time Magazine.
I say, amen. The comparison is valid & crucial. FDR's status & popularity were more solid & durable. Mr. Nocera has understood that there is a profound flaw in the theory & philosophy behind finance & capitalism that will literally destroy us if not significantly revised on a national level. Uber-Grand Larceny has become not only acceptable but revered. Crooks are elevated to guru status. He gets it. Will anyone else?
It is easy to understand why Obama is shy about stirring up a hornet's nest now, although it may be now, or never. But business as usual will have ... More »
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