... along with a new agency to boot.
- From Bloomberg.
- From USA Today.
He claims that this is the most comprehensive redesign of financial rules since the New Deal, but here's an argument that his proposals are insufficient, and fall short of what FDR accomplished:
... in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression.
Rather, the Obama plan is little more than an attempt to stick some new regulatory fingers into a very leaky financial dam rather than rebuild the dam itself. Without question, the latter would be more difficult, more contentious and probably more expensive. But it would also have more lasting value.
Others will argue that this is further unwarranted federal intervention in the economy.
I want my students to note the number of interest groups mentioned in the each story.
