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General News    H4'ed 3/24/10

After Healthcare, The Next Big Fight is Financial Reform

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"We need a jailout, not just a bailout"


NOW THAT HEALTH CARE IS "DONE," IT'S TIME FOR FINANCIAL REFORM WITH A FOCUS ON FRAUD AND CRIME IN THE SUITES


By Danny Schechter

Author of The Crime Of Our Time


In Britain, the police are raiding Hedge Funds to bust insider traders. In America, the Hedge Funds are still raiding us, even as public opinion calls for a crackdown on Wall Street. One recent poll, in a nation that seems so divided on everything, showed 82% for aggressive action. 82%!


A new Bloomberg survey says the public wants the government to punish the financial fraudsters. "57 percent of Americans have a mostly unfavorable or very unfavorable view of Wall Street, versus fewer than one-quarter who have a favorable opinion. Banks are viewed badly by 54 percent of poll respondents, and 60 percent have a negative opinion of insurance companies."


In a sense, reformers have won the fight of public opinion, but the financial reform battle promises to be even tougher than the health care fight.


Why?


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News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
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