Episode

1/7 Alexis Goldstein: Real Financial Reform in 2016

January 7, 2016

6:38 – Alexis Goldstein in to talk financial reform in 2016. What are the main takeaways of Dodd-Frank, why it was a big victory and why it is a big target for lobbyists. The importance of the CFPB in protecting Americans from fraud. How Dodd-Frank deals with failing banks and opaque derivatives markets, mortgage-backed securities and CDOs. The importance of the Volcker Rule.

17:52 – Would Dodd-Frank be having a bigger effect if it was enforced more strictly(17:42)? Why we haven’t seen a change in trading behavior since the Volcker Rule, and why this might mean it’s being ignored.

25:55 – The contrast between Bernie and Hillary with regard to financial reform? Financial reform evolution v. revolution. The obstacles criminal prosecutions for bankers. Citigroup’s foray in writing laws. JP Morgan vs. Louis Brandeis. Holder’s admission some are “too big to jail.”

35:37 – The “New Glass-Steagall” legislation making its way through congress and coming up in presidential primary debates, and why the removal of Glass-Steagall was vital in creating the financial crisis. Why Alexis is encouraged at the debate on financial reform we’re currently having, and how the debate is changing. Financial reform as a bipartisan issue. Finishing the unfinished business of financial reform.

And on the Fun Half! Why the new iPhone is obscene, more financial reform, and your calls!

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