Links for 01/19/16 | National Catholic Reporter by MSW. MGB: Much was actually done in reaction to the financial crisis - however it was mostly hijacked by big business. The Federal Reserve maintained liquidity - which is the one thing that benefited everyone - there were few lines at banks and ATMs. TARP was passed, but because a provision was added to prohibit paying big salaries to TARP banks, they all paid off their loans rather than helping borrowers. Lastly, Dodd-Frank put forward many essential reforms - which the Banks have sought to get out from under (not much luck) - but which did change the oil futures market at NYMEX to such an extent that garbage oil in Canada is now selling for negative fifty cents a barrell - meaning it is now considered toxic waste - rather than being a growth industry. What has not been done are criminal prosecutions (although these take time to develop and the personnel that understands this stuff is rare if the federal goverment), though civil actions are going forward. Most sadly missing is help for underwater borrowers - with the system using bankruptcy instead to aid them (which is what happened to us). A write down might have saved my home and my marriage. The origin of the modern Tea Party (post Obama) was to block any such action - but Larry Summers beat them to the punch from within the White House. Larry has a foot in high finance as well as in the Democratic Party.
That there are no bishops on the agenda for the March for Life is a nice change. Unless they are being witheld as surprise guests, call it the Francis Effect!
Notice to all that Bishop Flores will be at CUA for a Hispanic Innovators in the Faith Event. Click for details.
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