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Anna Molly's List: Economy
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the same people who caused this disaster are still calling the shots. Specifically, there has been little change in personnel and no acknowledgment of error at the central banks whose incompetence was responsible for the crisis.
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this crew of incompetents is still claiming papal infallibility
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May 26, 10
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The Restoring American Financial Stability Act of 2010 will do no such thing.
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It doesn't end "too big to fail" banks, doesn't create a Glass-Steagall style firewall between commercial and investment banking, keeps taxpayers on the hook for future bailouts, and leaves open dangerous loopholes in the regulation of derivatives.
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tax loophole that allows hedge-fund and private equity managers to treat their earnings as capital gains -- and pay a rate of only 15 percent rather than the 35 percent applied to ordinary income?
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The House has already tried three times to close it only to have the Senate cave in because of campaign donations from these and other financiers who benefit from it.
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