Guests: Jesse Eisinger and Anat Admati
Is the financial system any safer today four years after the bank bailout? The Dobb-Frank financial reform bill was supposed to bring stability, accountability and transparency to Wall Street but a lot of people say little has changed. A recent report by a Senate subcommittee on JPMorgan Chases’ “London Whale” trade fiasco demonstrates that risky practices are still rampant in the financial industry. In this hour of Radio Times, it’s a check-up on the health and stability of our financial system. First, Marty talks to Propublica senior reporter JESSE EISINGER about recent news on Wall Street and calls for additional reforms. Then, a new book argues that we can make banks safer without hurting the economy. Marty talks to one of the authors of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It, Stanford Finance and Economics professor ANAT ADMATI.
AP Photo/Mark Lennihan, file