Fussing about whether U.S. Sen. Chris Dodd’s financial reform legislation contains an independent Consumer Financial Protection Agency is like worrying about whether you’ll lose your tool shed as a conflagration consumes your home. Preserving the economy requires limiting, regulating and exposing derivative trading. That’s because derivatives – those credit default swaps – took down Wall Street — not consumer loans.
|By: TheMediaConsortium Tuesday April 21, 2009 5:57 am|
This week’s Audit tackles executive malfeasance on Wall Street and its consequences for ordinary citizens.