08 April 2010

Financial Reform Collapses into Farce

A first rate tubesteak by my friend Andrew Cockburn ... I urge you to read it carefully

As Rahm Eyes Exit
Financial Reform Bids Collapse Into Farce
By ANDREW COCKBURN, Counterpunch, 8 April 2010
Word from the White House is that Rahm Emanuel is still fishing around for a lucrative berth in the financial industry (“money first, then the deal” he reportedly barked at a recent industry caller discussing business possibilities in the private sector) so we needn’t hold our breath too hard waiting for the administration to bring law enforcement, or even its emasculated sibling “regulation reform,”  to Wall Street anytime soon.  Not that the banks have ever really felt threatened, given the contemptuous ease, which I described here last December,  with which they were able to gut the reform bill spawned last in the House of Representatives. ... more