Episode 219 • • 27:16 - 31:55
219: Train Crashes into Plane
Federal Reserve Empowerment and Financial Reform Act
President Obama signed the Wall Street Reform and Consumer Protection Act, which the hosts characterize as the Federal Reserve Empowerment Act. The legislation grants Ben Bernanke and the Federal Reserve significant new powers over the financial system. The discussion also touches on diversity mandates for bank boards and the refusal of smaller banks to accept TARP funds.