basle 3

Red Links, 7-31-10

Jon BerkeleyYes, I missed last week – apologies. This week brings disappointment leavened with hope – for carbon taxes, CCT’s, and sorting out the banking system and the world economy in general. I am, however, partial to a counter-terror strategy in Afghanistan. But, maybe I should read the WikiLeaks’ trove of documents now.


FinReg: From Potty Training to World Government

For at least a pair of views on the Wall Street Reform and Consumer Protection Act, or Dodd-Frank, or FinReg, a helpful place to start is Chris Hayes’ The Breakdown: Will the Financial Reform Bill Prevent Future Meltdowns? with Mike Konzcal.

Mike’s got you covered. He breaks the crisis down into four interconnected sectors: an exploitative, under-regulated system of consumer finance; dark markets in derivatives; the failures of “too big to fail” banks and the ripple effects they caused; and shadow banks that were able to avoid regulations (and also lacking, as Mike says, the “toilet training” necessary to behave).


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