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Reich: Corporate America's Race to the Bottom 'Now Official'


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Reich: Corporate America's Race to the Bottom 'Now Official'

Robert Reich, Robert Reich

Wonder what’s happening with bank reform? Watch your wallets.

Having created giant loopholes in the Dodd-Frank law recently passed by Congress (keeping “customized” derivatives underground, for example), fighting off attempts to cap the size of the biggest banks, and keeping capital requirements relatively modest, Wall Street is now busily whittling back the rest through regulations.

Squadrons of lawyers and lobbyists are now pressing the Treasury, Comptroller of the Currency, SEC, and the Fed to go even easier on the Street.