WHY I VOTE FOR GREEN PARTY CANDIDATES
Krugman on Stress Test Optimism: Not So Fast
Well, earlier this week, Mr. Cohen told an audience that the future of Wall Street won’t be very different from its recent past, declaring, “I am far from convinced there was something inherently wrong with the system.” Hey, that little thing about causing the worst global slump since the Great Depression? Never mind.
Those are frightening words. They suggest that while the Federal Reserve and the Obama administration continue to insist that they’re committed to tighter financial regulation and greater oversight, Wall Street insiders are taking the mildness of bank policy so far as a sign that they’ll soon be able to go back to playing the same games as before.
The Democrats aren’t any more willing than the Republicans to grab rich people by the throat and make them play fair. We’re in for even nastier weather in the near to distant future.