New York Times on Financial Regulation
futureofcapitalism.com

The New York Times lead news article about the passage of the Dodd-Frank financial reform contains a pretty strongly opinionated section of historical context:

Over the last half-century, as traders and lenders increasingly drove the nation's economic growth, politicians of both parties scrambled to get out of the way, passing a series of landmark bills that allowed financial companies to become larger, less transparent and more profitable.

Usury laws were set aside. Banks were allowed to expand across state lines, sell insurance, trade securities. The government watched and did nothing as the bulk of financial activity moved into a parallel universe of private investment funds, unregulated lenders and black markets like derivatives trading.

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New York Times on Financial Regulation
futureofcapitalism.com

The New York Times lead news article about the passage of the Dodd-Frank financial reform contains a pretty strongly opinionated section of historical context:

Over the last half-century, as traders and lenders increasingly drove the nation's economic growth, politicians of both parties scrambled to get out of the way, passing a series of landmark bills that allowed financial companies to become larger, less transparent and more profitable.

Usury laws were set aside. Banks were allowed to expand across state lines, sell insurance, trade securities. The government watched and did nothing as the bulk of financial activity moved into a parallel universe of private investment funds, unregulated lenders and black markets like derivatives trading.

Read More...