Word: bankses
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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...
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...
The bill the House passed in December closely tracks the Treasury proposals; Geithner's aides say they got at least 80% of what they wanted, including the stand-alone consumer agency, an easy-to-understand innovation for Americans who think mortgages and credit cards should be as safe as toasters...
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...
Back in Vogue Volcker was living in New York City, getting engaged to his longtime assistant, giving speeches around the world, making wry comments about the uselessness of financial innovation and the remorselessness of Wall Street. He was also making cagey references to his lack of influence with Obama, for...