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Two more items on the Obama administration's proposed reforms of financial regulation. First, one by William Greider in the Nation:
Obama's False Financial Reform
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And this, from Jane Hamsher at Firedoglake:
238 Members of Congress Disagree with the President: The Fed Needs More Accountability
[T]he Federal Reserve has refused multiple inquiries from both the House and the Senate to disclose who is receiving trillions of dollars from the central banking system. The Federal Reserve has redacted the central terms of the no-bid contracts it has issued to Wall Street firms like Blackrock and PIMCO, without disclosure required of the Treasury, and is participating in new and exotic programs like the trillion-dollar TALF to leverage the Treasury's balance sheet. With discussions of allocating even more power to the Federal Reserve as the 'systemic risk regulator' of the credit markets, more oversight over the central bank's operations is clearly necessary.
See the original post.