Of course, the new government financial rules won’t avert future crisis in the United States of America, it couldn’t possibly. You must understand that the reason we had this global financial crisis was because the government set up rules and allowed quasi-government agencies to see to it that anyone who wanted a home in the United States could buy one.
Conventional lending is going to change to a more strict practice that is intended to help the American consumer but many feel it will only hamper and make the current economy worsen. However, rampant and virtually unrestricted borrowing by American consumers is what led to the financial meltdown in the first place. While the bill may be strong medicine that tastes bad, it may be just what we need.
Michael Greenberger, founder and director of the University of Maryland Center for Health and Homeland Security and a professor at the University of Maryland School of Law, is interviewed live on MSNBC while discussing Financial reform and they way it looks especially in light of Europe’s Greek debt crisis and other recent developments.
Video outlining the attempts by banking lobby to combat proposed financial reform legislation.
Mark Warren gives his take on the purpose of financial reform legislation and the overhaul of the banking system, especially the overturning of accepted status quo concepts such as “too big to fail” and how bipartisan efforts will work to anticipate unintended consequences.
Video overview of and primer of financial reform legislation and whether it will pass
Chris Dodd introduces Financial Reform Legislation
The prospect of Consumer Protection Agency designed to be a watchdog for banks and financial institutions as part of the Financial Reform Bill
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