Robert Reich: Happy Anniversary, Lehman Brothers! - Guernica / A Magazine of Art & Politics
Five years ago this September, Lehman Brothers went bankrupt, and the Street hurtled toward the worst financial crisis in eighty years. Yet the biggest Wall Street banks are far larger now than they were then. And the Dodd-Frank rules designed to stop them from betting with the insured deposits of ordinary savers are still on the drawing boards—courtesy of the banks’ lobbying prowess. The so-called Volcker Rule has yet to see the light of day.
…maybe we could have just one more try at doing something useful.
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