Tagged: financiala regulatory reform
As the Senate is poised this week to vote on the House-passed compromise bill reforming the financial regulatory system, Law Professor Tamar Frankel, an authority on securities law and author of “Trust and Honesty: America’s Business Culture at a Crossroad,” speculates about the future of derivatives trading once the reform act is enacted. More important than regulating the trading of derivatives, the instruments that helped bring down the financial system in 2008, Frankel feels that citizens should turn away from the “medicine men” (and women) who created the risky bets.
“Unless the geniuses who created the enormously risky ‘risk reducers’ and those who sold them take part of what they sell, and never again bet against what they have created and sold, we will continue to have the enlightened age of a sophisticated financial system — unemployment, enormous national debt, and the death of the middle class that used to be America’s backbone.”
Contact Tamar Frankely, 617-353-3773, firstname.lastname@example.org