[OPE] The Dodd plan for financial regulation

http://banking.senate.gov/public/_files/FinancialReformDiscussionDraft111009.pdf
http://banking.senate.gov/public/_files/AYO09D44_xml.pdf

Spectacular in the Dodd plan is the complete and studious absence of any mention of workers - the people who create the wealth, and lose their jobs and conditions in a financial crisis. There are only "consumers" and "shareholders" in the plan, not workers, and consequently no social insurance provision for workers whose lives are adversely affected or even ruined as a result of financial debacles impacting on their employment.

In other words, for the government, the uninsured risks employees run because of financial crises are of no concern whatever. It's sort of like, we will bail out the bankers, but workers are on their own in all this. What a good deal (sic.)!!! It's as if Roosevelt never happened.

Jurriaan
Jurriaan

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Received on Wed Nov 11 18:36:27 2009