What Financial Reform Really Means
August 2, 2010
Dear Friends,
Among all the media noise surrounding the recent financial reform bill (signed into law a little over one week ago), I want to make a recommendation to you:
Please listen to a conversation between Terry Gross (NPR’s Fresh Air program) and Binyamin Appelbaum (New York Times) that was broadcast on NPR on July 21st. If you really want to understand this important regulatory action in basic terms, Appelbaum provides a great summary. It will be a good use of your valuable time, I promise. See the link below.
One essential question to consider while listening: can we expect that the federal government will be able to keep up with the pace of change and the complexity of modern financial markets?
I believe the answer is no.
Thus, we at RSF are calling for a fundamental, grassroots demand shift from investors. Regulators in Washington D.C. will not prevent the next market meltdown. They will continue to be engaged in a game of catch-up. They simply don’t have the tools or resources to put the genie back in the bottle.
But we can. We, ordinary citizens, can change how and where we invest, effectively voting with our dollars.
I won’t go into more detail here, but we would love to talk with you at any time, and please feel free to comment below after you have listened to the program.
All the best,
Don
Listen to Fresh Air’s Terry Gross talking with Binyamin Appelbaum here.
Don Shaffer is President & CEO of RSF Social Finance.
- Published by Don Shaffer
- Categories: Blog, Investing
Dear Don,
Appelbaum’s commentary was ear-opening. Particularly with Citizens United’s overweening influence on electoral politics, it seems urgent that we launch an improved approach to investment rather than being held captive by “moneylenders at the ATM temples.” Will you be issuing White Papers that can be discussed and circulated to friendly political figures?
Do hope you’re doing well! Missed the LA ROC gathering but surely anticipate coming togther again.
Very best wishes to you and your family, Don…what an adorable litle girl!
Warm regards,
Charlene orszag
Comment by Charlene Orszag — October 10, 2010 @ 10:36 pm