HuffPost's Ryan Grim On Banks: 'Critical Time' In History of Financial Reform (VIDEO)
HuffPost senior congressional correspondent Ryan Grim joined the Morning Meeting panel today to discuss the news that hundreds of protesters have descended upon Chicago to disrupt the annual meeting of the American Bankers Association and let Wall Street know that taxpayers are unhappy with how they have been handling our money.
Grim said,
what the debtors' revolt, and what this protest out in Chicago shows you, is that we really are at a critical time in the history of financial reform. Over the course of the last couple hundred years, this is something that has been happening in America every 50 years or so... The American people are pretty comfortable with wealth and capital accumulation as long as their own standard of living is increasing and as long as the banks are following some rules. Whenever they start breaking those rules, that's when you see these types of uprisings of discontent. Now the question will be has capital gotten so strong that it'll be able to fight off the reforms that are the historical pattern.
WATCH: (Grim starts at 5:30)
Visit msnbc.com for Breaking News, World News, and News about the Economy
Robert Reich: Breaking Up the Big Banks, and Why Congress Won't Do It
Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.
Obama Presses for Financial Reform - BusinessWeek
Americans for Financial Reform
Editorial - That Promised Financial Reform - NYTimes.com
The Pew Economic Policy Group | Financial Reform Project
Regulator sees big reform ahead, cautions bankers
Bernanke puts heat on Congress to reform financial regulation
Loading comments…
Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to
I am looking at the pictures of the protests in Chicago and read about a protest outside of Blankfein's home in New York. These crooked bankers had better get afraid. I am thinking about 1789 in France and 1917 in Russia.
These bankers and all officers if the banks should be in GITMO
There is so much corruption in government & on wall street it is staggering. the country is soooooo angry! our congressmen & senators are bought & paid for by the big corporations & we are sick to death of it.
are there no honest men in politics? the answer seems to be....NO, not one.
It is simple. If they are too big to fail then they are too big.
Financial reform? Good luck with that. We will all be bums soon
I am sure I got a better start in that than you did.
No job 18 months. No health insurance. etc
Bums with nothing to lose.
True grassroots; no astroturf here!
http://www.youtube.com/watch?v=G54lfxiid_w&feature=PlayList&p=C810D89F123A7CFD&index=0&playnext=1
With out reinstating the Glass-Steagall firewall between Commercial Banks, Investment Banks, and Insurance Companies there is no Financial Reform taking place, only window dressing. If we don't address this situation with a sense of history's lessons we are going to be damned to repeat our mistakes ... bottom line.
True. It's pretty simple
Exactly! By the way, where is the gramm reaper?
You must be logged in to comment. Log in or connect with
