Joshua Rosner examines the House regulatory reform bill, which does not, in its current form, acknowledge that “Too Big to Fail” is too big to exist. The House draft bill written by Rep. Barney Frank (D – MA) – along with several former Fed attorneys and Treasury staff and consultants — ignores fundamental reality: You don’t employ a bomb squad to sit around and wait for a bomb to explode, you engage them to dismantle it as soon as they find one. Unfortunately, this bill is one more act of
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There is a deal on the table in Washington with the potential to create a truce between two sides that have been at war for many decades. The deal takes the form of the Waxman-Markey bill — the framework for federal climate law now moving through Congress. While it is still uncertain whether climate legislation will pass this year, the draft bill contains a formula for compromise that could create an unprecedented handshake between the fossil fuel industry and environmentalists and unite the
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