To the Point
Financial Reform: Unwritten Rules for an Empty Road
The Dodd-Frank finance reform law was meant to protect consumers from another Wall Street meltdown. Are taxpayers still vulnerable to banks that are "too big to fail?"
By Warren Olney • • 50m ListenLast year's Dodd-Frank finance reform law was supposed to protect consumers from another meltdown on Wall Street. Are taxpayers and the global economy still vulnerable to banks that are "too big to fail?" Also, Pressure on Pakistan's Army chief amid fraying US relations, and Anthony Weiner decides to resign from Congress.
Banner image: President Barack Obama (L) greets Sen. Chris Dodd (C) (D-CT) and Rep. Barney Frank (R) (D-MA) after signing the Dodd-Frank Wall Street Reform and Consumer Protection Act July 21, 2010 in Washington, DC. Photo: Win McNamee/Getty Images
In this episode
3 storiesPressure on Pakistani Army Chief amid Fraying US Relations
The next victim in Pakistan's deteriorating relationship with the US may be the most powerful man in that country. Army chief General Ashfaq Kayani reportedly is trying to make amends with his own military leadership after a meeting in which he was jeered by fellow officers.
Read the story8 minFinancial Reform: Unwritten Rules for an Empty Road
When he signed the Dodd-Frank finance reform bill , President Obama said it would protect consumers from the reckless behavior of banks that caused the Great Recession and then got bailed out with taxpayer money. Less than a year after calling the legislation a "key pillar" of economic recovery, he hardly mentions it any more.
Read the story36 minCongressman Weiner Steps Down
Minority leader Nancy Pelosi called for New York Congressman Anthony Weiner to step down and avoid further embarrassment to his family, himself and the Democratic Party. She even threatened to strip him of his committee assignments. President Obama went public too, suggesting that Weiner resign. Today, from Sheepshead Bay in Brooklyn, he did.
Read the story7 min
