Tags: Johnson and Kwak, 13 Bankers, Stop Another Financial Meltdown, Baselinescenario.com, Moyers, Senator Sherrod Brown, Need Law rather than Regulation
Senator Sherrod Brown of Ohio is turning out be one of my favorite senators who is not afraid to call a spade a spade. Do not trust regulators because they need a job after they leave government with a change in administration. With so few banks owning everything worth owning, we are asking too much of regulators to do the right thing. Summers as Treasury Secretary got rid of the woman who wanted to regulate derivatives in the late 1990s. We must have laws on the books that regulate the regulators! Kwak and Johnson's website http://baselinescenario.com/ is quite good. They are superb in explaining the financial system to mainstreet.
Jim Kawakami, April 16, 2010, http://jimboguy.blogspot.com
Bill Moyers video http://www.pbs.org/moyers/journal/04162010/profile.html
Simon Johnson and James Kwak