The Good, the Bad and the Ugly

[Crewleader]

June 18, 2009

The Good, the Bad and the Ugly
Obama's Financial Sector Reform Plan

By ROBERT WEISSMAN

There are major gaps and shortcomings in the Obama administration's financial regulatory proposals, formally released today, and the proposals alone leave the financial sector vulnerable to future crisis. Still, it's nice to be able to say that the proposal does contain meaningful reforms.

Whether those meaningful reform proposals become law is no sure thing, and will depend on the administration's willingness to stare down Wall Street -- which still retains immense political power, despite its partial self-immolation -- and on whether a mobilized public demands Congress act for consumers, not contributors.

The 85-page draft released today is qualitatively different than the bullet-point plans previously issued by the Treasury Department. It contains detailed proposals, spanning across the financial regulatory spectrum, not easily summarized. Here are only some key elements -- first, the good, then the bad.

http://www.counterpunch.org/weissman06182009.html

[eridani]

1. Mother Jones calls it the good, the bad and the weak

http://www.alternet.org/workplace/140770/obama%27s_new_economic_plan%3A_the_good%2C_the_bad_and_the_weak/?page=entire