While bank trading operations are highly profitable again, the part of banking that really matters — lending, which fuels investment and job creation — is not. Full Story »
Posted by Jacopo Gradassai - via OneRiot, Opinion Source, Google News (Business), AllTop, New York Times (Most Emailed), New York Times (Opinion)
Why the change in tone? Administration officials are furious at the way the financial industry, just months after receiving a gigantic taxpayer bailout, is lobbying fiercely against serious reform. But you have to wonder what they expected to happen. They followed a softly, softly policy, providing aid with few strings, back when all of Wall Street was on the ropes; this left them with very little leverage over firms like Goldman that are now, once again, making a lot of money.
