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November 13, 2012

What Obama should do now: Make the financial system safer

 

“Step up, Mr. President: No more worries about reelection. Now you can tackle those issues that you said had to wait for your second term. Outlook has given you a head start on how to address immigration, climate change, banking reform and racial inequality.

President Obama came into office on the heels of the worst financial crisis since the Great Depression, and he called for reform of “the outdated rules and regulations” that allowed “the recklessness of a few to threaten the entire economy.” While the Dodd-Frank financial reform law he signed gives regulators more authority, as it’s currently implemented it will not prevent another massive collapse. Without constricting the economy’s growth, the president can do much more to create a safer banking system.”

Read Anat Admati’s full op ed in the Washington Post here

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