Marian Wang: According to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task.
Marian Wang: But separate from the jobs created to actually handle new regulation, others have pointed out that regulations can have a long-term, positive effect on overall economic growth by preventing the types of crises that put an industry on life-support.
Robert Reich: So the race to the bottom is now official. Wall Street will set up its casino wherever financial gambling is least regulated.
Tom Degan: It’s highly unlikely that any serious reform is going to be put forward until the Republican presence on Capital Hill has been significantly diluted if not eradicated. I do not believe that it is a given that they are going to gain major ground come Election Day. In fact there is every reason to believe that they will only continue to self-destruct between now and then. They can’t win without the section of the electorate who describe themselves as “moderate”. The moderates are taking a good look at the train wreck that is the modern GOP and by all accounts they’re becoming more and more disgusted by what they see.
Back in December, when it was obvious that the economy was in bad shape and before we knew how precarious it could get, Fareed Zakaria, editor of Newsweek International and columnist for Newsweek and the Washington Post, wrote, “For Obama to be remembered as a great president, he has to do nothing less than rescue [...]