Financial Regulation; G-20; McChrystal Affair

Bob thinks that the financial regulation bill just passed favors big banks -- again -- and doesn't do a thing for consumers. Tony thinks the consumer protections will do nothing for the economy and notes that Senator Dodd, Committee Chair, says "no one will know what it will do till it's in place." Sort of like flying in a plane whose pilot has no experience. Matt says that the capitalization requirements is the biggest protector but that what we won't know what they are till the dust clears. Meanwhile, the G-20 unlikely to present a unified front to the world. And as to McChrystal, all agree he was out of line, and Bob and Tony agree it's a failed policy driving US involvement. (Arianna Huffington is away.)

Banner image: Senator Christopher Dodd (D-CT) (L) speaks with Senator Richard Shelby (R-AL) during a Senate-House Conference Committee meeting on Capitol Hill, June 22, 2010, discussing the Senate and House versions of the financial regulatory reform bill in hopes of a compromise that both houses will accept. Photo: Mark Wilson/Getty Images