The Alabama Republican and the ranking Republican member of the Senate Banking Committee, gave a final speech on the Senate floor in advance of the final vote to pass a financial regulation bill
With thousands of new federal and government-related jobs, Washington has benefited from some of the circumstances that have caused Main Streets to go dark elsewhere
Since the bailout of Wall Street, the populist drum in Washington has been beating faster and louder. The outrage over executive pay is nothing new on Main Street. When taxpayer dollars used to save the skins of executives who put their companies in peril are now getting bonuses- the fury of Main Street can be understandable. In this “new normal” where many Wall Street legends like Peter Cohen are expecting a reshaping of the financial industry based on returning to an environment of a more client-oriented business, the Obama administration has set out an aggressive plan for Congress to reshape the financial system as we know it. But are they tackling the true root causes of the financial meltdown or are they pandering to populism?
Obama proposes moving $30 billion out of TARP and loan it to community banks to spur lending to small businesses
Americans are quite familiar with customer data mining by large corporations even if they are unaware of the network science behind it. No sooner do clerks scan bar codes at the check-out counter, then e-coupons turn up in our in boxes with just the right timing to get us thinking, “yeah, good idea; let’s buy some ink cartridges while they’re on sale today.” My favorite is Google which posts relevant ads on Gmail before you’re done typing the key words; although they often miss the mark like when you’re writing about the shoe bomber and they offer you a deal on Italian loafers.