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Given that the major health care debate, which has been taking up a lot of oxygen in the room, is over, everyone is now turning their attention to financial reform. So I’ve decided to write a little 10-page brief that does its best to catch everyone up to what has been going on with the financial reform debate. In particular, it tries to argue how we can judge a successful reform effort from a weak one along the ideas of consumer financial protection, derivatives reform, resolution authority, and a 21st Century Glass-Steagall. Some people have asked for something like “Rortybomb 101: Financial Reform”, and this is what you get.

Here’s the web page and the pdf.

There’s also 4 graphics at the end for those of you who prefer to not read it, but want to be quickly updated. Here’s the one for resolution authority (click through for full-sized image):

Also, in a sneaky way, the front page, which is also here has a list of suggestions and talking points for those of you who want a quick summary or who would print it, look a the cover, and never read it. Particularly, there are a list of suggestions, some low-hanging fruit and some a bit of a reach, that would make the Senate Bill significantly better.

I plan on updating this as the Senate effort to pass financial reform continues. If you enjoy all the analysis of financial reform at this blog feel free to read this and pass it along to those who want to know what is happening in financial reform. And feedback, particularly from distinguishing consumers of this sort of thing, would be much appreciated.

Source: Current State of Financial Reform, March 26, 2010