Matt Stoller is a fellow at the Roosevelt Institute. You can follow him on at
(Politico) – Ok, this is a very nasty and intricate fight that this article doesn’t cover, but I will. Basically various industry groups in DC have been fighting to gut Sarbanes-Oxley and Dodd-Frank investor protections for quite some time, because you know regulation is bad and stuff. Also 2008 was just a dream, right? The way they are doing it is by trying to exempt “smaller” businesses from reporting requirements in the public capital markets. Accountants are totally expensive! Hello penny stock scams! Of course the Obama administration is all into this, because it fulfills the trifecta of being mildly corrupt, mostly irrelevant, and stupid. Sweet! The House passed a bill called the JOBS Act to gut these reporting requirements. The Senate is following up, and through a variety of procedural tricks, Senator Chuck Schumer of New York is leading the effort. Liberals in the Senate are fighting against it by proposing an alternative. Schumer is trying to pry Senate quasi-liberal and pivotal vote Sherrod Brown into his corner with campaign cash, giving the liberal alternative a vote he’ll know will lose while getting his Wall Street friendly version through. Sherrod Brown is up for reelection this year, and he is the single most targeted member in the country by SuperPACs. So that’s the score. I have been out of DC for more than a year, this makes me nostalgic. NOT! Boo-ya! Made ya look! (cries out of pity for his country)
Also, Chuck Schumer, we see you, and no one is fooled.
(Harper’s) Spectacular and important piece by Barry Lynn of the New America Foundation. Read. It. Now.
(LA Times) h/t Lambert
(Center for Responsible Lending)
Twitter Feed Bernanke’s Latest Effort to Connect (Businessweek) Oh look at the Fed and how much it wants to connect with the public. Except when it doesn’t release internal FOMC meeting transcripts of pivotal meetings around the housing bubble and crash! Twitter! Cute!
(FT) Uh, ya think?
(FT) UK’s leading bank regulator continues his radical streak of sanity. And that’s it for the paywalled content.
Huffington Post – this is a new series that’s going to drive the Obama campaign crazy. And it should, because Obama promised a bunch of major stuff and went back on his word quite frequently. Renegotiate NAFTA anyone?
(Huffington Post) I’m actually kind of impressed at the levels of asshole-ishness certain right-wing politicians can reach when they really try. The Onion is going to have to up their game to keep up.
(Washington Post) h/t Lambert
(Yahoo News) h/t Lambert
(The Washington Post)