The Fight for Financial Reform
Katrina VanDen Heuvel, editor of The Nation, writes about the importance of the Financial Crisis Inquiry Commission and the need for the Consumer Financial Protection Agency in the fight for financial reform."Indeed there is an opportunity for understanding what exactly got us into this mess and what is needed for a real recovery replete with smart and effective regulations. In addition to the CFPA, there will need to be new thinking and reform on derivatives, executive pay, credit rating agencies, systemic risk monitoring, the Community Reinvestment Act, Federal Reserve transparency--to name a few areas of concern! "If we don't enact commonsense reforms--what is the alternative? "More "mugging of the common good", as Borosage puts it, as well-funded, well-connected, powerful interests continue to benefit from a stacked deck while the rest of us fend for ourselves. "To read the full article, click here.