Adam and Alex and I spent the day running around Capitol Hill, trying to document what could be the most sweeping regulatory reform efforts the banking industry has seen since the great depression.

The House Financial Services Committee held a hearing on Systemic Risk and how to make sure a future crisis doesn't cascade the way this one has. Barney Frank is hoping to get some sort of major regulatory reform package together in very short order.

 

Adam had somehow set up interviews with what felt like a dozen members of Congress, many of whom were very thoughtful. One told us he was bringing home big stacks of reading at night, to help get his head around this stuff.

The hearing was pretty full. A retired woman wondered in for a while, got bored and left. I introduced myself to a man in a suit and asked who he worked for. "An interested party," was all he would say.

Let's just say the stakes are high. We're going to cover this one in depth.