Arianna appeared on Dylan Ratigan's MSNBC show this afternoon, all with Phil Angelides, the chair of the Financial Crisis Commission, to discuss whether Washington is capable of producing financial reform that will prevent big Wall Street banks from recklessly putting the entire system at risk.
Citing Tom Friedman, Arianna noted that in Washington
We have these major problems but we are only geared to produce sub-optimum solutions. We are constantly producing these sub-optimum solutions and they are not going to be good enough because the financial architecture is so flawed that unless we fundamentally change it, as even Chris Dodd admitted, we are not going to eliminate the possibility of a future meltdown of the magnitude that we faced before. And unless we deal with derivatives, and we really regulate derivatives and basically end the casino gambling -- what will happen is the casino gambling leads once again to the major meltdown that we faced in '08.
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