The Tuesday Podcast: What The Finance Bill Doesn't Tell Us
That big finance bill everybody's been talking about since forever is about to become law. But as it turns out, the bill doesn't answer some fundamental questions.
Which big companies (besides banks) will be subject to new regulations? The bill doesn't say.
How much money will banks have to hold as a safety cushion? Unclear.
On today's podcast, we talk to Barney Frank, the Democratic congressman who was one of the bill's key backers.
Frank argues that Congress has to leave lots of issues to the regulators' discretion. And, he says, the bill's effectiveness is largely in the hands of future leaders.
"In democracies, there are no guarantees," he told us. For more from our interview with Frank, read our post from earlier this afternoon.
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