Daily Digest - March 25: Banks Learned Their Lesson, Right?

Mar 25, 2013

Is it already time to weaken Dodd-Frank? (WaPo)

If you think that Wall Street doesn't do anything risky anymore and learned its lesson from the crisis, you might answer yes. But Roosevelt Institute Fellow Mike Konczal has some evidence to convince you otherwise.

Cyprus: It’s not over yet (Reuters)

Meanwhile, banks are still in need of bailouts across the pond. Felix Salmon argues that Cyprus's deal avoids some really bad problems like hitting uninsured depositors and exiting the euro, but the impact on the tiny country's GDP could still sink the whole thing.

Hot Money Blues (NYTimes)

Paul Krugman foresees not just a sea change in Cyprus's economy away from a safe haven for the wealthy avoiding taxes, but a global realization that letting rich people dump their money in certain countries and then pull it out at whim might make things a little unstable.

How Fed Policy Could Leave The Country At The Mercy Of Another Recession (ThinkProgress)

If you're only concerned with inflation, the Fed has been doing a great job, but if you think we have a slight problem with unemployment, the Fed could only get a B-. Worse, Jeff Spross writes that the obsession with inflation could depress job growth for years to come.

Good news for people who like bad news about inequality (WaPo)

The words "inequality" and "permanent" shouldn't be in the same sentence, but Ezra Klein highlights a new study that shows Americans have little ability to move up the economic ladder. I hear the cost of bootstraps has really skyrocketed.

Strike Debt Abolishes $1.1 Million of Medical Debt (The Nation)

Remember Occupy Wall Street, that group that wanted to do something about inequality? An offshoot has taken matters into its own hands by buying up cheap debt and... just forgiving it.

Tackling Concerns of Independent Workers (NYTimes)

In an era of declining unionism and increasing numbers of freelancers, Sara Horowitz has a new model for labor organizing that brings those workers together to support each other. If they can ever change out of their pajamas.

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