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Why D.C. Is Up in Arms About Derivatives… Again (Marketplace)
Roosevelt Institute Fellow Mike Konczal tells Stan Alcorn that the financial regulation repealed in the budget deal had already been scaled back to include only the riskiest types of derivatives trading.
What’s Next for the Minimum Wage Movement? (MSNBC)
Roosevelt Institute Fellow Dorian Warren moderates a discussion about the grassroots political power that’s pushing the minimum wage fight forward despite gridlock at the federal level.
Why Elizabeth Warren Is Going to War With Obama Over Antonio Weiss (Vox)
Senator Warren sees the President’s pick for Undersecretary of Treasury for Domestic Finance as more evidence that the administration is too friendly to Wall Street, writes Matt Yglesias.
Misreading the Lessons From Financial Crises (NYT)
Alan Greenspan’s response to the 1987 stock market crash trained both regulators and investors to expect the Fed to prop up markets instead of addressing the underlying problems, writes Floyd Norris.
Banking Lobbyists Block Transparency Bill, Advocates Say (IBT)
A bill to reform the Freedom of Information Act is stalled in the House, reports Matthew Cunningham-Cook, as Wall Street seeks to maintain a veil of secrecy about its deals with public agencies.
New on Next New Deal
Democrats had the leverage to block a deal that opens the door to more Wall Street bailouts, writes Roosevelt Institute Senior Fellow Richard Kirsch, but instead they gave in to Republican blackmail.
Roosevelt Institute Fellow Mike Konczal joins with The Other 98’s Alexis Goldstein and Better Markets’ Caitlin Kline to debunk the claim that the regulation repealed by the budget deal is redundant.