This is all about the recent ballyhooed Financial Reform bill that passed into law. The author is an outstanding investigative journalist who has carefully looked into the details of the law and the process of crafting it. I haven't had a chance to read it all, but the article looks outstanding. Read all about how the government of the ruling class, by the ruling class, and for the ruling class really works.
Dodd-Frank was never going to be a meaningful reform unless these two fateful Clinton-era laws – commercial banks gambling with taxpayer money, and unregulated derivatives being traded in the dark – were reversed. The story of how the last real shot at reining in Wall Street got routed tells you everything you need to know about how, and on whose behalf, our government works. It was Congress at its most cowardly, deceptive best, with both parties teaming up to subject reform to death by a thousand paper cuts – with the worst cuts coming, literally, in the final moments before the bill's passage.