BUSINESS

MSNBC Panel: Banks Cannot Be Allowed To Write Their Own Reform (VIDEO)

05/03/2010 05:12 am ET | Updated May 25, 2011

Josh Rosner and Rob Johnson joined Dylan Ratigan on his MSNBC show this afternoon to discuss the dangers facing the economy if significant financial reform is not passed. They warned that the process is not nearly far enough along, and that the banks that brought about the financial crisis in the first place are being given too large a say in the creation of a new regulatory structure.

Another pressing issue that must be dealt with is the increasing percentage of the economy that the financial services sector occupies even while the economy itself is contracting, what Ratigan calls "the snake eating itself."

Johnson also strongly endorsed the creation of a strong consumer protection agency, something TARP watchdog Elizabeth Warren has been advocating for some time.

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