Commenting on financial reform

One of my previous posts dealt with the issue of financial reform and the idea of “too big to fail” companies. To follow up on this I found and commented on an interesting blog post that provided information on the views of small business owners and what they thought about financial reform. From the information provided, it seems clear that small business owners feel strongly that there is a need for significant reform. Still, while I was looking at other relevant posts, I came across another blog post which stated that wall street had spent 29.8 million on lobbying to prevent reform. Showing the institutional resistance to reform of the financial sector, despite the state of our economy, that seems to oppose new legislation whenever possible.

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One Response

  1. As a small business owner, I believe that reform is not only needed, it is imperative and necessary for the future of our economy. In fact, the reason we are in this mess is deregulation going back as far as Reagan and the Glass/Stegal Act. If we don’t have reform, the greed of individuals on Wall Street will cause this whole thing to happen again in some other, similar form a couple years down the road. The loopholes that caused this to happen must be closed or the next bubble is right around the corner.

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