Word: administrationitis
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In fact, Democrats in Washington and even within the Administration were at odds over dozens of provisions. As with health care, there are serious differences on financial reform between the House and the Senate, and the Democratic caucus within the Senate is again divided. And as the House bill got...
It's also no coincidence that the President made his announcement while standing next to the unlikeliest populist advocate for financial reform, 82-year-old former Federal Reserve chairman Paul Volcker, a previously marginalized Obama adviser who had chastised the Administration for making insufficient efforts to limit the size and...
And yet Obama's bank tax - designed not only to make taxpayers whole but also to discourage excessive risk-taking - came from Geithner. And so did most of the Administration's plans to address the too-big-to-fail problem, create an independent consumer agency for financial products and otherwise...
And as was conspicuously not the case with health care reform, the Administration has laid out specific changes it wants to see in financial oversight. In June, Geithner released an 88-page paper with proposals to address just about everything that went wrong before the meltdown, from unregulated brokers who...
But for critics who believed the Administration was reluctant to crack down on Wall Street, Volcker became the proof that wasn't in the pudding - the monetary version of the "most trusted name in news" who suddenly sounded like a Daily Kos blogger. If Obama really wanted to stop banks...