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Interested in getting a better understanding of the the financial regulatory reform bill that’s finally making it’s way to the finish line in Washington? Then you should definitely check out this informative article by Pat Garofalo of the Center for American Progess.

While Garofalo admits that the bill has been watered down, he still endorses it as a “must do”:

But these compromises should not detract from the significant achievement that Wall Street reform would be under the Dodd-Frank Act. The current set of rules governing consumer lending and the tools available for reacting to a financial crisis are severely limited in scope and totally inadequate in practice. Adhering to the principles of putting consumers first, keeping taxpayers out of the business of rescuing failed firms, and keeping a watchful eye on the riskiest financial instruments will change for the better the way in which Wall Street does business.”

One Comment

  1. WILLIAM MURRAT

    June 30, 2010 at 7:43 am

    I’m amazed we’re calling this reform bill the Dodd-Frank Act when both of these bumbling fools were asleep for years during the previous financial crisis. What a joke !