Re-Regulating Financial MarketsPlay
In the last year and more, Wall Street’s wild ways took the American economy to the brink of disaster and a ways beyond.
Trillions have been lost. Savings gutted. Jobs and lives turned upside down.
Yesterday, President Obama made his case for a new regulatory blueprint, to try to rebuild some guide rails for American finance. To create a system that works for business and consumers, he said, without choking the engines of American prosperity.
This hour, On Point: Obama and the new regulation of Wall Street – too much, too little, or just right.
You can join the conversation. Tell us what you think — here on this page, on Twitter, and on Facebook.Guests:
Ken Rogoff, professor of economics at Harvard University. He was chief economist and director of research at the International Monetary Fund from 2001 to 2003.
Robert Kuttner, co-founder and co-editor of The American Prospect magazine and distinguished senior fellow at the think tank Demos. He's the author of "Obama’s Challenge: America’s Economic Crisis and the Power of a Transformative Presidency" and "The Squandering of America: How the Failure of Our Politics Undermines Our Prosperity."
William Cohan, a Wall Street insider for 17 years, he worked for Lazard Freres and as a managing director at J.P. Morgan Chase. He's author of "House of Cards: A Tale of Hubris and Wretched Excess on Wall Street." He also writes for The Daily Beast.
This program aired on June 18, 2009.