Magazine
Latest Issue

Crisis watch: taming wall street

Thanks to the efforts of one senator, US lawmakers are realising that Wall Street must be reeled in if the economy is to prosper

By Simon Johnson   June 2010

America’s financial sector has shown renewed strength in recent months—political strength, that is, undermining most of the sensible proposals for banking reform that remain on the table. If we are still making any progress at all, it is because of the noble efforts of a small number of US senators.

Most notable has been Senator Ted Kaufman, a Democrat from Delaware (yes, a pro-business state), who has pressed tirelessly to fix the most egregious problems in America’s financial sector. He understands that successful reform requires three ingredients: arguments that persuade, the ability to bring colleagues along, and a lot of…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect