The Good, The Bad & The Ugly – Week of 2/11/13

The Good

  • At her first Banking, Housing, & Urban Affairs Committee hearing, Senator Elizabeth Warren asks the regulators “When was the last time you took a Wall Street bank to trial?” In response, the regulators offer bumbling excuses. We can only hope this embarrassment produces some indictments. Ryan Grim at Huff Post February 14, 2013

The Bad

  • Eight more states join a lawsuit challenging Title II of Dodd-Frank, giving the treasury “Orderly Liquidation Authority” over banks. Armoreite February 14, 2013
  • Dave Dayen on how “the mortgage standards launched by the Consumer Financial Protection Bureau will fall short of what is necessary” Naked Capitalism February 12, 2013
  • Republicans are determined to gut the CFPB in any way possible from blocking the nomination of Richard Cordray to demanding the director be replaced with a commission. Carter Dougherty at Bloomberg Businessweek February 13, 2013

The Ugly

  • To stay with the broader theme of Occupy. Research by Emmanuel Saez, renowned income inequality expert, shows that 121% of income gains from 2009 to 2011 went to the top 1% of the population. As for the 99%, they saw a 0.4% decrease, showing that income inequality has only gotten worse under Obama. Bonnie Kavousi at Huff Post February 12, 2013

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