Thursday, March 30, 2017

Rollback of the Fiduciary Rule

For those keeping track, back on February 3rd, Trump signed an execute of order targeting the Dodd-Frank Act, the tepid financial reform passed to try and prevent a repeat of the 2008 financial crisis and its trillion dollar bail-out of Wall Street.

The lady in green seems very pleased. That's Representative Ann Wagner, Republican of Missouri's 2nd district, who called rolling back the fiduciary rule “a labor of love for me.” Coincidentally, donors with names like Jones Financial Companies, Northwestern Mutual, Wells Fargo, Financial Services Institute PAC showed Wagner a lot of love in the form of campaign funds.

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A political economy

A recent piece in the Economist ( A new anthology of essays reconsiders Thomas Piketty’s “Capital” , May 20, 2107) ends with these words: ...