Thursday, February 25, 2010

R. I. P. Financial Reform We Can Believe In?

While I do not like the post's title, the body of a blog from Charles Gasparino re financial reform is spot on.
How Obama Screwed Volcker begins and ends as follows:

The president needed the gravitas of the former Fed chairman to sell his bank reform to Wall Street. And when the “Volcker Rule” didn’t fly, Obama sold him out. . .'

And just like that, the wise old man became the crazy uncle that no one listens to anymore.

According to Gasparino, Big Finance is in control.

Assuming this interpretation is more or less correct, one wonders how long Tall Paul will hang around with this crew. Party loyalty only extends so far with him, or at least that's his image.

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