As the regulations created by Dodd-Frank are chipped away, many are asking why the federal government is unable to enforce banking reforms even after the worst financial crisis since the Great Depression.
Helping our friends and our family members does not preclude helping women and babies in Africa or victims of the Tsunami in Indonesia or the earthquake in Haiti. We would walk through fire to help our own children and those in our communities, but why stop there?
The appointment comes as no surprise because the agency typically draws regulators from the ranks of the regulated. But it does illustrate a significant problem: by relying so heavily on people with industry connections, the SEC can tangle itself in conflicts of interest.
As more women face the challenge, the proverbial glass ceiling will keep cracking and hopefully, one day it will break apart. Until then, don't be afraid to take risks and nurture your ideas. They might just hatch.
The urgent imperative for the Fed to revert to canons of sound money can be illustrated by its opposite: the utterly shameful and gratuitous bailout of Morgan Stanley two weeks after the Lehman Brothers bankruptcy.
Perhaps the greatest success of the bank lobby has been its success in pitting the right and the left against each other to undermine a broader understanding that the status quo is neither in the public interest nor necessary for an effective financial system.
Executives show utter contempt for regulators and for telling the truth. How dare those lowly public servants interfere with the banks primary mission, which is making as much money as possible, anyway possible, and damn the law!
There is the possibility that the Justice Department really believes that prosecuting the criminal activities of Bank of America or JP Morgan could sink the economy. If this is true then it make the case for breaking up the big banks even more of a slam dunk.
I remain troubled by the fact that fundamental economic issues seem to be the last thing on anybody's minds in D.C. And looming over these economic problems is the elephant in the room: these Too Big To Fail, and apparently Too Big To Jail, Wall Street financial conglomerates.