Congress, Wall Street will cause the next financial crisis

“It is an enormous package of gifts for Wall Street and the worst actors in finance,” said Lisa Donner, executive director of Americans for Financial Reform, who said the bill House Republicans passed would increase the likelihood of another financial crisis. american bankers association, cheered the committee’s vote.

Congress, Wall Street will cause the next financial crisis September 17, 2013 KEYWORDS Banking banking institutions Banking regulation banking system Capitol Hill Christopher Walen Economy.

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The Dodd-Frank Act, or the the Wall Street Reform and Consumer Protection Act of 2010, was enacted into law during the Obama administration as a response to the financial crisis of 2008. It was named after its sponsors, US Senator Christopher Dodd and US Representative Barney Frank.

Criticism of Fed doesn't bode well for the next financial crash, former Vice Chair. by Congress in the Dodd-Frank Wall Street Reform and Consumer. would only cause more uncertainty and accentuate any financial crash.

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“You have a Congress that’s been unable to function effectively. It’s the biggest deal by a major Wall Street firm since the financial crisis – so what’s the rationale? The bank wants in on.

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Here are five ways things could get bad for everyone.. billionaire investor, recently posited that we are likely in a “global debt bubble,” and Jim. As a result, a generation of well-educated and underemployed. There is at least one person at 1600 Pennsylvania Avenue who thinks this could all end badly.

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Wall Street is now thoroughly emboldened as the financial elite follows the mantra of Kelly Clarkston’s hit song: "What doesn’t kill you makes you stronger." Since the crisis of 2007-08, the Big Six US banks-JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley-have seen.

Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies.

At the heart of the financial crisis were unresolved, and often undisclosed, conflicts of interest," said Dr. Coburn. "Blame for this mess lies everywhere from federal regulators who cast a blind eye, Wall Street bankers who let greed run wild, and members of Congress who failed to provide oversight."