Obama’s Regulatory Brain

banking regulations

Robert Reich: The most important thing to know about the 1,500 page financial reform bill passed by the Senate last week — now on the way to being reconciled with the House bill — is that it’s regulatory. It does nothing to change the structure of Wall Street.

Lincoln to the Rescue

Paul Volcker, Blanche Lincoln

Robert Reich: Blanche Lincoln wants to force the banks to put their derivatives into separate entities that aren’t subsidized by you and me. This is just common sense. Her move would also end the big banks’ monopoly over derivatives, thereby reducing their risk to the financial system. It would also cut dramatically into the big banks’ profits.

The Three Essentials of Financial Reform

dollar-hand

As the White House unveils its long-awaited proposals to prevent another Wall Street meltdown in the future, keep a lookout for three essentials. Without them the Street will revert to its old ways as soon as the coast clears. In fact, now that the government has bailed out the Street, the biggest banks will take [...]

Can You Imagine?

obama-press-conference

Can you imagine the pickle we’d be in if George Bush still occupied the White House? Or if we had a McCain-Palin administration making the problems facing America today that much worse? That thought kept crossing my mind as I listened to Barack Obama’s press conference on my drive home from work this evening. America’s [...]

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