With President Obama having launched a major new initiative to rein in the power of our leading banks, key Senators rightly begin to wonder: Where does Bernanke stand on the central issue of the day?
After a tough argument, Paul Volcker appeared to have finally persuaded Obama that the unconditional bailouts of 2008-2009 planted the seeds for another major economic crisis. But how deep does this conversion go?
Have we really reached the situation where the Senate must bow down before financial markets and high-ranking executives who are really just talking their book?
How can politicians claim to be against Too Big To Fail banks when they actually have an account or a credit card or a mortgage at one such offender? Shouldn't state officials be held accountable for where they park the taxpayers' funds?