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Decide the legal blood alcohol limit for driving, wouldn t it? yeah, i mean, if you go back to the greenspan area, the ethos of the time was that market actors, wall street firms, would self-regulate. that is they would never engage in trades that were so risky that if they went wrong it would cause them large losses and tank the economy. well, of course, that didn t work out very well. and so the spirit of dodd/frank was to replace some of the oversight that had worked so well in this economy for decades after the great depression. and what we see now is the these firms and their lobbyists getting into the mix, literally writing legislation that s undermining the spirit of dodd/frank. it s absolutely incredible. now, according to this story in the times jared, citigroup, which received nearly half a trillion dollars from taxpayers, more than any other bank, is now writing word for word the laws ....
Since 2008, there have been no arrests of any senior wall street executives. no arrests. do you see how sad that made the voiceover guy? if watching jon stewart s take on wall street last night didn t make you angry, then perhaps reading the front page of today s new york times will. there it is in black and white. banks lobbyists help in drafting bills on finance. that s right. three years of the president signed that landmark dodd/frank law, wall street has gone right back to regulating itself. which, if past is truly prologue, should work out just fine. joining us now is economist jared bernstein. jared, i don t know about you, but i would have thought that letting wall street regulate itself given what happened in 2007 and 2008, and all that we learned about unscrupulous and fraudulent practices is a bit like letting the drunk driver ....
Legislation is killing small banks. economic growth is not a government program. the dodd/frank law is another example of the president s attack on economic freedom. regulatory reform. that s the theme this week in the republican controlled house of representatives. speaker boehner leading the charge with a pack of new laws to remove legislation that stifle growth in america. there might be a slight problem with the timing of boehner s legislative bliss. as republicans proposing to do away with protection for consumers, a new wave of scandals washing over the banking industry. in the last two weeks banks have been exposed on everything from laundering billions of dollars for drug cartels to stealing from their own customers. today we learned interest rate rigging is expanding targeting bankers who could face conclusion charges and possibly imprisonment. joined by a democrat ranking ....
Movement came from, the bailout of wall street. taet party movement hates wall street as much as then why are they republican? because they feel like the government has been taken over by wall street. big government and big business, they are all in cahoots together. jp morgan s jamie dimon has been doing and wall street as a whole has been trying to erode the dodd/frank bill, trying to provide even more license for what they were doing before. the so-called volker rule under the dodd/frank law is sort of glass steigle act, the old glass steigle from the 1930s, separate commercial investment banking, it was thrown out in 1989, and a lot of people felt it had to come back. the dodd/frank act is a great act as far as it goes, but it ....
Public is very skeptical and distrustful. that s where the tea party movement came from, the bailout of wall street. taet party movement hates wall street as much as then why are they republican? because they feel like the government has been taken over by wall street. big government and big business, they are all in cahoots together. jp morgan s jamie dimon has been doing and wall street as a whole has been trying to erode the dodd/frank bill, trying to provide even more license for what they were doing before. the so-called volker rule under the dodd/frank law is sort of glass steigle act, the old glass steigle from the 1930s, separate commercial investment banking, it was thrown out in 1989, and a lot of people felt it had to come back. the dodd/frank act is a great act as far as it goes, but it ....