Gloating
June 25, 2010 | federal legislation, industry | Comments (0)Yes, that’s what “consumer” advocates and pro-financial reform groups are doing. From the Huffington Post story:
Given the complexity of financial regulatory reform, progressive observers looked to key leaders to gauge the value of the proposals under discussion. Among others, the group included Elizabeth Warren, a Harvard professor and head of the congressional panel overseeing the bailout; Heather Booth, the director of Americans for Financial Reform; Richard Trumka, the president of the AFL-CIO who has made confronting Wall Street a central part of his union’s mission; and Kathleen Day, a former Washington Post business reporter now with the Center for Responsible Lending.
All of them are out with statements celebrating the final bill, though with some reservations. The AFL-CIO put its statement out under the name of the director of the office of investment, Daniel Pedrotty. “This is a David and Goliath victory of working people against the big banks and Wall Street,” he said. “While it’s not perfect, this legislation is a giant step to changing the rules of the game that caused the economic crisis.”
Bull.
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