The Obama administration's plan is to have the Federal Reserve regulate banks that might pose a 'systemic risk' if they were to fail.
Thomas FrankPeople getting their fundamental interests wrong is what American political life is all about.
Thomas FrankDuring the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires.
Thomas FrankGoverning was always difficult for conservatives, but as they return to the opposition, they are rediscovering their skill at blame evasion.
Thomas FrankMounting a campaign against plutocracy makes as much sense to the typical Washington liberal as would circulating a petition against gravity. What our modernized liberal leaders offer is not confrontation but a kind of therapy for those flattened by the free-market hurricane: they counsel us to accept the inevitability of the situation.
Thomas Frank