S/SW blog philosophy -

I credit favorite writers and public opinion makers.

A lifelong Democrat, my comments on Congress, the judiciary and the presidency are regular features.

My observations and commentary are on people and events in politics that affect the USA or the rest of the world, and stand for the interests of peace, security and justice.

Wednesday, April 07, 2010

Congress can move ahead on financial regulation with good public support says The Democratic Strategist

As he leads this effort Chairman of the Banking Committee, Senator Chris Dodd will be retiring at the end of his term. Thus he does not need to be distracted by reelection issues. Senator Dodd can comfortably push for regulation reforms that can truly protect the nation, and particularly vulnerable consumers, from another Great Recession. If Congress does not go far enough, the next banking greed bubble-and-burst episode could become the Great Depression-II. My suggestions include: 1) Establish an independent Financial Consumer protection agency. 2) Break up the biggest banks -- who are really investment banks, not banks who serve banking customers. 3) Regulate exotic derivatives.

Posted via web from Southwest Postings

1 comment:

Anonymous said...

Hi Carol, none of your suggestions are Constitutional. 10th amendment leaves these all to the states.