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Elizabeth Warren: Scaling back ‘too big’
Scaling back ‘too big’
The 21st Century Glass-Steagall Act would reduce the risk of another crash
By Elizabeth Warren
Five years have passed since the financial crisis, but we all remember its darkest days. Credit dried up. The stock market cratered. There were legitimate fears that the dominos of our financial system would never stop falling.
The crash happened quickly and dramatically, and it caught our nation and apparently even our regulators by surprise. But the causes of the crisis were years in the making, and the warning signs were everywhere.
On many of these fronts, we’ve made real progress. The Dodd-Frank Act was the strongest financial reform law in three generations, and it gave regulators a number of common-sense tools to prevent future crises.
Dodd-Frank also put in place the new Consumer Financial Protection Bureau, which has made serious strides toward leveling the playing field for families and increasing transparency in the marketplace...no law is perfect, and our work isn’t done. We need to take more steps to eliminate the “too big to fail’’ problem — the problem posed by financial institutions that are so large that their failure would threaten the entire economy.
- more -
http://www.bostonglobe.com/opinion/2013/09/18/century-glass-steagall-act-will-disable-too-big-fail-bank-risk/cdR0wqqnDIGBBoYAaFFfbO/story.html
The 21st Century Glass-Steagall Act would reduce the risk of another crash
By Elizabeth Warren
Five years have passed since the financial crisis, but we all remember its darkest days. Credit dried up. The stock market cratered. There were legitimate fears that the dominos of our financial system would never stop falling.
The crash happened quickly and dramatically, and it caught our nation and apparently even our regulators by surprise. But the causes of the crisis were years in the making, and the warning signs were everywhere.
On many of these fronts, we’ve made real progress. The Dodd-Frank Act was the strongest financial reform law in three generations, and it gave regulators a number of common-sense tools to prevent future crises.
Dodd-Frank also put in place the new Consumer Financial Protection Bureau, which has made serious strides toward leveling the playing field for families and increasing transparency in the marketplace...no law is perfect, and our work isn’t done. We need to take more steps to eliminate the “too big to fail’’ problem — the problem posed by financial institutions that are so large that their failure would threaten the entire economy.
- more -
http://www.bostonglobe.com/opinion/2013/09/18/century-glass-steagall-act-will-disable-too-big-fail-bank-risk/cdR0wqqnDIGBBoYAaFFfbO/story.html
SEC Will Require Companies To Report CEO-To-Worker Pay Ratios
http://www.democraticunderground.com/10023694931
4 replies
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