You remember Simon Johnson’s “The Quiet Coup” we discussed awhile back? Here is Johnson talking about the “doom cycle” this past March.
We learned today that the House and Senate have agreed on a finance reform bill and are prepared to pass it into law. Tim Fernholz has a brief explanation of the major provisions. I will keep an eye out for other analyses of the bill.
Fernholz believes the bill really does diminish the likelihood of future “bailouts” of the financial sector. Andrew Leonard calls the bill a “deeply flawed success” that is worthy of guarded optimism.
BTW, do you remember a time when we didn’t have to guard our optimism? I certainly don’t.