I’ve been telling you about the critical concessions in the last days of the FinReg conference committee. Let’s step back a second. This bill won’t end too big to fail. It won’t protect the country to enough of a degree in the event of the next crisis. But it could do some positive things that would head in that direction. It could balance the relationship between the country and the oligopoly of giant, unaccountable banks. It could give consumers a fighting chance to protect themselves from getting screwed repeatedly. And as a financial reform bill, it’s a pretty solid anti-predatory lending bill. Heck, I’d cleave those pieces off, support it as a standalone, and hail a good progressive victory.
|By: David Dayen Wednesday June 23, 2010 5:00 pm|
|By: David Dayen Wednesday June 23, 2010 7:05 am|
Yesterday was a singularly unimpressive day at the Wall Street reform conference committee, with concessions and industry giveaways galore.