… give or take
// It was bound to happen. Goldman Sachs was far too successful and prominent to avoid an investigation by regulators in the aftermath of massive financial crisis. And since nobody considers that the economic system itself might be to blame for the crisis, what better scapegoat is there? Surely, there’s nothing systemically flawed with the [...]
// President Obama recently announced new banking and financial reforms that indicate that while he clearly still doesn’t quite grasp the underlying economic and financial structures that fostered the crisis, he’s getting there. The Economist reports: Though not a full return to Glass-Steagall, the law that separated commercial banking and investment banking in the wake [...]
// The FT runs an interesting piece today advocating a three-way split for financial institutions. Rather than the simpler two-way division between investment and commercial banking that many, including the Bank of England’s Mervyn King, have proposed, a three-way division would allow for the separation not just of the “casino” (investment banks, market makers) from [...]
// Well, as if on cue, just as I finished writing my previous post on the lack of effective action or reflection on the part of our political “leaders” vis-à-vis the economic crisis, the New York Times reports that Obama and the Democrats are considering legislation to rein in institutions that are “too big to [...]
