Robert Reich | Why Wall Street Reform Is Stuck in Reverse

Robert Reich, Robert Reich's Blog: "Eight months ago it looked as if Wall Street was in store for strong financial regulation - oversight of derivative trading, pay linked to long-term performance, much higher capital requirements, an end to conflicts of interest (i.e. credit rating agencies being paid by the very companies whose securities they're rating), and even resurrection of the Glass-Steagall Act separating commercial from investment banking. Today, Congress is struggling to produce the tiniest shards of regulation that would at least give the appearance of doing something to rein in the Street. What happened in the intervening months?"

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