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Yves Smith wonders if Obama's late-to-the-game plan to limit banks' size and trading can still...

Yves Smith wonders if Obama's late-to-the-game plan to limit banks' size and trading can still make a mark: "This should have been implemented months ago, when the banks were on the ropes and beholden to Washington," she writes. And ponders: "Given how derivatives reform was gutted and health care reform was botched, what do you think the odds are that something with teeth will be voted in?"
Comments (6)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
    45 to 1.
    21 Jan 2010, 09:52 AM Reply Like
  • DagnyTaggart
    , contributor
    Comments (486) | Send Message
    As soon as the Democrats and Republicans remember that the financial institutions pay for their reelections, they will back down. Don't expect politicians to voluntarily join the ranks of the unemployed by doing something meaningful.


    Hopefully, voters this time around will see past the well-practiced smiles and vote them out when they, as we all know they will, do nothing.
    21 Jan 2010, 09:52 AM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    This very well could end as another failed reform, and hence, yet another nail in the Dem/Obama re-election bid.
    21 Jan 2010, 09:58 AM Reply Like
  • zorrow
    , contributor
    Comments (1115) | Send Message
    I was reading that good old Warren Buffet is the largest stockholder in the Washington Post other than family members. Evidently his General RE played a key role in AIG's ability to defraud its own shareholders and counter parties. I bring this up because I notice the the paid shills in the financial media are chirping like 17 year locusts about how Goldman is good and government is bad. Maybe doctor Goebbels was right. If you lie incessantly and loudly enough you can breakdown the normal person's sense of justice.
    21 Jan 2010, 10:16 AM Reply Like
  • inthemoney
    , contributor
    Comments (981) | Send Message
    I tend to agree. Buffet's interview on CNBC yesterday had all the hallmarks of propaganda. I am starting to seriously dislike this guy.
    21 Jan 2010, 10:49 AM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
    Healthcare is a considerably more complex piece of legislation than Financial reform and much harder to defend due to the ugly horse trading spectacle. Perceived public animosity toward bankers is sugar to fat cat politicians seeking reelection. Even overcoming a senate filibuster shouldn't be an issue. Bankers are well known for their fickleness with campaign contributions. If Obama's banking reform plan is passed, it will be with a plan to use any bank campaign contributions made to Republicans as an ugly stick to beat them over the head going into the election.
    21 Jan 2010, 11:28 AM Reply Like
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