After the House passed finance reform last year, it was widely assumed that the Senate would produce a kinder and gentler measure. But, think again. Incumbents of both parties are facing tough challenges in this election year, and Goldman Sachs has been charged with consumer fraud. Also, We'll talk about the the US Supreme Court and justice for juveniles.
FROM THIS EPISODE
As the Senate gets ready to vote on finance reform, The Financial Times has headlined, “Wall Street lobbyists braced for defeat.” Banks are highly unpopular this election year, and some conservative Republicans may join forces with liberal Democrats to crack down. But--even if Goldman Sachs could lose a big chunk of its profits—critics say the reforms deal more with symptoms than causes. Should states get back the authority they once had to protect consumers?
Elizabeth Warren, Democratic candidate for US Senate (@elizabethforMA)
Tyler Cowen, George Mason University (@tylercowen)
Stephen Lerner, Director of the Private Equity Project, SEIU
Felix Salmon, Fusion (@felixsalmon)
Damian Paletta, Wall Street Journal (@damianpaletta)
Citing “evolving standards of decency” worldwide, a majority of the US Supreme Court ruled yesterday that life in prison without parole is “cruel and unusual punishment” for juveniles who’ve committed crimes other than murder. Dissenters said states ought to decide the issue. Writing for the majority, Justice Anthony Kennedy noted that 77 of the 129 juveniles serving life without parole for crimes less than murder are in Florida. The case that was decided involved Terrence Graham, who attempted to rob a restaurant when he was 16.
Carol Marbin Miller, Repoter, Miami Herald