Kicking the Can
In the fall of 2012, Americans once again had an opportunity to elect a president and change Congress. But those who hoped that the election would provide an opportunity for the nation and its leaders to engage in a discussion about the unfinished business of financial reform must surely be disappointed.
President Obama and his opponent Mitt Romney avoided the topic of financial regulation. The topic drew just one brief engagement in the three presidential debates. When pressed in the first debate by moderator Jim Lehrer to name examples of excessive regulation, Governor Romney blamed Dodd-Frank for perpetuating banks’ too-big-to-fail protection and suggested that the delay in defining a qualified residential mortgage ...