Streams

Why Wall Street Always Wins

Thursday, May 09, 2013

Earlier this week the House Financial Services Committee approved several pieces of legislation which alter the portion of the Dodd-Frank financial reform law that deals with derivatives. Jeff Connaughton, a former investment banker, lobbyist, White House lawyer and Senate aide, talks about the state of Wall Street regulation. He's the author of The Payoff: Why Wall Street Always Wins.

Guests:

Jeff Connaughton
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Comments [5]

jf from the future

Lobbyist need to be illegal. There is no other way.

May. 09 2013 08:05 PM
oscar from ny

Fascinating ...if I was president I would raid every bank in America with the fbi just like in casino...I would subpoena all the heads of the bank and adk them who's inscription or face do they see in the currency...they will answer, George W..Jackson..Hamilton ..Franklin. etc..than I would appoint mr Bernanki an army of u.s lawyers and accountants to handle the trade..and I would appoint if necessary u.s judges to hear the circular babble of the counter lawyers and arrest them for conspiracy against the u.s and the ppl of the u.s..matter fact I would tried them as spys and crime against the government and the ppl of America. Than I would get all my spys and c.I.a operatives and counterterrorist marines and and the strongest soldiers to wipe out all the secret devils working from the middle east and send them to guantamo bay and of course the ppl in the middle east will intolerante with everything ..but war is war and they will find out that their codes were wrong so no nuclear war...and at the end I would go to the middle east and proclaim peace in the name of u.s and we would embrace and be embraced by everyone in the world and we will have 1000 more years of peace...

May. 09 2013 04:05 PM
Sam from NYC

Well put John A (previous comment), I too commend Jeff throwing light on this situation. All systems are continually evolving. Ideologies and rules tend to easily become irrelevant when they don't account for this truth. Unfortunately we have systems – political and financial – that are out of whack.

May. 09 2013 02:10 PM

why hasn't anyone suggested glass-stegal? Or have the financial instruments surpassed what GS used to do?

May. 09 2013 01:58 PM
John A

A decent rule of thumb to have is: 'any system of money will corrupt itself over time'. Why continual oversight is necessary. So thank-you Jeff for working to do this oversight.

May. 09 2013 01:48 PM

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