Word: emption
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Dates: during 2010-2019
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...Financial reform, like health care reform, is truly complex. It's hard to explain controversies over pre-emption or end users or proprietary trading; as another Wall Street lobbyist puts it, "Americans don't care whether Morgan Stanley keeps its prop desk." Obama knows he has little chance to transform the system if regulatory reform gets bogged down over health-care-style intricacies. The good news for Obama is that nobody claims our financial oversight is the best in the world. He may have a chance for reform if he can boil it down to one simple question...