Reply #69: If what he says is true

[jeanpalmer]

that banks won't be required to offer plain vanilla mortgages, then Rich is correct, because a lot of the damage occurred as a result of exotic mortgages. You can't have reform without requirng plain vanilla mortgages. It would be like "credit card reform" that allows banks to raise rates to 30%.

I read your links as to what Obama has proposed, and he laid out some overall objectives, but no specifics. As one of your links Harrison points out, the devil is in the details. If what Rich says is true, it looks like Congress will take financial reform in the same direction it's taking healthcare reform -- reform dictated by special interests. That's a legitimate concern. And the person who should stand up to that kind of effort is President Obama. We'll see.