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One of the best pieces of advice I ever got was from a former editor, who told me how to handle topics that were likely to annoy the powerful. “Don’t nibble at their toes,” he told me. “Go for their throat.” That’s why I’m renaming the financial reform bill, known as Dodd-Frank, to what it really is: the Toe-Nibbling Act of 2010.
The reason is that, with a rare exception or two, this 2,000-page bill nibbles at the toes of the problems that brought us the worldwide financial meltdown. It doesn’t go for the throat — its sponsors just pretend that it does.
Yes, Dodd-Frank may be, as President Obama calls it, “the toughest financial reform since the ones we created in the aftermath of the Great Depression.” If that’s the case, the bill shows how narrow our ambitions have become, and how little history we know.
More from Ken Silverstein:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
Estimated number of calories a person consumes during Thanksgiving dinner:
The earth had become twice as dusty during the past century.
A man sued Pennsylvania state police who detained him for 29 days when they mistook his homemade soap for cocaine.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”