Brown-Vitter Recasts Financial-Reform Battlefield

See on Scoop.itDidYouCheckFirst

April 29 (Bloomberg) — A year ago, the big U.S. banks were focused on repealing, or at least eliminating large parts of, the Dodd-Frank financial-reform law.

Greg Russak‘s insight:

“Bair, Fisher, Hoenig, Rosenblum and the people who work with them aren’t populists. They are thoughtful and experienced technocrats who have worked long and hard in the sphere of practical policy.

Intellectually, the tide has turned. The dangers of reckless behavior by global megabanks are now understood much more broadly. And Brown-Vitter provides an appropriate roadmap for addressing some of the core problems and making the financial system significantly safer.” – Simon Johnson, a professor at the MIT Sloan School of Management, a senior fellow at the Peterson Institute for International Economics, and co-author of White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You.

See on www.nationalmemo.com

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