Article 3249R The financial system is still blinking red. We need reform more than ever | Rana Foroohar

The financial system is still blinking red. We need reform more than ever | Rana Foroohar

by
Rana Foroohar
from on (#3249R)

Fixing our financial system will be the key not only to stable growth, but also to stable politics

It's an amazing fact that a decade on from the financial crisis, Americans are still arguing about how to reform our financial system. Even as the Trump administration argues for a roll-back of the hard-won Dodd-Frank banking regulation, it's worth noting that disenchantment with Wall Street is, paradoxically, one of the things that brought the president to office.

Since 2008, the markets have soared, but Main Street has suffered. That disconnect was expertly exploited by the president, who, despite his many lies, had the advantage of being a political "outsider" who told some important truths about the economy that resonated with voters.

Related: Donald Trump's 3% growth plan is only for the 1% | Kenneth Rogoff

Related: We're addicted to debt and headed for a crash. It could be worse than 2007 | Zoe Williams

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