Mike Konczal Talks FinReg on The Breakdown
By Joseph Lawless, courtesy of New Deal 2.0
Now that Obama has signed FinReg into law, Roosevelt Institute Fellow Mike Konczal appeared on The Breakdown with Chris Hayes yesterday to discuss the bill. Confused about the entire financial meltdown? Mike’s got you covered. He breaks the crisis down into four interconnected sectors: an exploitative, under-regulated system of consumer finance; dark markets in derivatives; the failures of “too big to fail” banks and the ripple effects they caused; and shadow banks that were able to avoid regulations (and also lacking, as Mike says, the “toilet training” necessary to behave).
These four sectors will also be the basis used for grading the potency of the bill. And as Mike notes, while it offers opportunities for some much-needed changes, it still falls short in several areas.
Listen to the audio file on the Original Page.
And check out some of Mike’s latest pieces on ND20:
How HAMP Makes Elizabeth Warren The Only Choice For Consumer Protection
Treasury versus Progressives on the Financial Reform Bill
Underwater Mortgages and the Odd Definition of the Experian Study
