That's a quote about the Dodd-Frank bill that will go to the floor of both houses next week.  It's from Josh Rosner of Graham, Fisher and Co., who appeared with Shahien Nasiripour (Huff-po Business) on Dylan Ratigan Friday.

They take apart this bill, and do it well, IMO.  Ratigan, you may know, has dogged this issue as hard as Simon Johnson; Nasiripour has also been on it like fleas on a dog, and kept with it through the conference committee debates.  (Except that he wasn't allowed in the off-camera cloakroom, where the real deals were made, of course.)

I can't get an embed code for the video, or can't figure it out; I can't even make the link live yet in the Movable Type Blog Now window.  If the link doesn't get lively by the time this publishes, I'll add in a comment.

If you care about this issue, or even care to know what the majority of Dems in both Houses have been up to; if you care to know what the White House has been up to, and can face it, please watch this video.

Oopsie; there I went, telling you these people are saying the truth.  Ach!  You'll make your own decisions; but as far as I can tell, having read and watched and read about all of this for the past year, they are representing the players deeds honestly.

I'm sure you may have your own takes on it all, and are bound to weigh in with objections or justifications or whatever; that's a good thing.  Please do.

My motivation is facing reality: Progressive Dems dislike this bill; Corporate Dems like it; Dems who like Lobbyist money like it; some like it as a first step, hoping for more.  I'd suggest not holding your breath until after the next financial meltdown; my guess this will be it for now.

The Robert Rubin White House money people in Obama's cabinet are opposed to financial vigorous regulation; they helped bring us what we have now; their legacy from the Clinton administration.

Let me stick in this Baldwin quote, and hope you read it in the same spirit as I offer it:

" People who shut their eyes to reality simply invite their own destruction, and anyone who insists on remaining in a state of innocence long after that innocence is dead turns himself into a monster." - James Baldwin

Please, just watch and listen, then keep an open mind in the days to come. 

Rosner:

"The greatest risk is we didn't solve Too Big to Fail; an institution can still go down, it still leaves most of the problems and the risks to you as a taxpayer, ...and the revenue model of the banks are intact, but the margins are going to get squeezed, so there'll be less credit available at a time when the economy's starting to soften anyway...giving Banks more of a justification for pulling back lending further at a time when those green shoots are withering...."

 

Watch here; it should go to the fourth section, entitled  Changes Coming in Financial Regulation; hope it works; otherwise, scroll down, please. 

It seems to work; it's only 11 minutes long!

 

http://www.msnbc.msn.com/id/31510813/#37930857