... in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression. Full Story »
Posted by Kaizar Campwala
A strong critique of Obama's financial regulatory plan. Worth reading to understand how Obama's plan falls short of a comprehensive overhaul, but it doesn't go in depth on why the administration didn't go more more robust regulation, and whether what they're proposing will be good enough. Look to the linked stories for more of that kind of analysis.
The plan places enormous trust in the judgment of the Federal Reserve — trust that critics say has not really been borne out by its actions during the Internet and housing bubbles. Firms will have to put up a little more capital, and deal with a little more oversight, but once the financial crisis is over, it will, in all likelihood, be back to business as usual.
