Politics

Bankster Scorecard

By Mary Bottari

I asked subscribers to the Bankster list to rate the bank reform bill that just passed Congress. I appreciate the fact that some folks took the time to rank the three parts of the bill, which include: 1) the Consumer Financial Protection Bureau; 2) the derivatives chapter, and; 3) our favorite "too big to fail" section.

Those that took the time to rate all three sections of the bill averaged a "B" for consumer protection, "C" for derivatives, "F" for too big to fail. However, most Bankster subscribers gave the whole bill an "F." There was general agreement that the bill would not prevent the next crisis because it did not do enough about the financial institutions whose size, power and influence pose a threat to our economy. Bankster subscribers have always cared the most about the "too big to fail" issues and supported the reinstatement of Glass-Steagall, hard size caps on the big banks and other measures to break up the banks.

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Full post as published by PR Watch on August 02, 2010 (boomark / email).