Financial reform fails

Simon Johnson pronounces the Financial Reform Bill ineffective as essentially nothing in the entire legislation will reduce the potential for massive system risk as we head into the next credit cycle As you were then. Business as usual for the bailed-out-too-big-to-fail-banks. Moral hazard and socialism for the rich, our well established, guiding principles. Ah well, maybe next time, when the big one bites, and sends us back to the dark ages, maybe then, we can start over from scratch. The …

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