March 11, 2010

Introduction:  Where the Burden of Proof Lies

Financial regulatory reform is perhaps the most important legislation that the Congress will address for many years to come. Because if we don't get it right, the consequences of another financial meltdown could truly be devastating.

In the Senate, as we continue to move closer to consideration of a landmark bill, however, we are still far short of addressing some of the fundamental problems – particularly that of “too big to fail” – that caused the last crisis and already have planted the seeds for the next one.  And this is happening after months of careful deliberation and negotiations, and just a year and a half after the virtual meltdown of our entire...