This interview gives insight on the proposed amendment that would stop taxpayer-backed commercial banks from trading risky assets. Sen. John McCain (R-AZ) explains his proposal on Kudlow.
Total firewall is the only way to control the slippery slop between the lending side and the risk-taking side. It is the right thing to restore. It is time for bankers to give up their magician mantle and go back to banking and for tax payers to get out of the risk subsidizing business.
Interesting that McCain says he is leaning away from endorsing Bernanke's re-appointment…could real change be actually coming?
Cory’s Chart Corner
“An explosive critique about the investment industry: provocative and well worth reading.”
“Juggling Dynamite, #1 pick for best new books about money and markets.”
“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.”