Being a newbie to this site, I had begun writing a post about SIFI, which some got posted prematurely. I will try to make amends but have difficulty understanding how to preview and then return to edit a post--Help!
The inspiration to this post is from a story by gjohnsit about IMF playing games with Greece's financial crisis. The upshot of that story, if it plays out the way the money-vultures would like it to play out, would be harmful, if not devastating to Greek citizens. A link contained in the diary: SIFI refers to a program contained in Dodd-Frank, a federal law which has been significantly decried by progressives, as being too-little, too-late.
Yet the concept of SIFI, Systemically Important Financial Institutions, seems like it beginning to take a bite of "too big to fail". The link seems to indicate the early phases of Dodd-Frank implementation--a good start. Without venturing a guess as to what the money-vultures do with this portion of the regulation, I am hopeful that progress can be made, one bite at a time (after all, that's how you eat an elephant). The "other shoe" of the progressive battle cry is "too big to jail". This travesty falls in the lap of Justice Department Holder (and his replacement, the also apparently pro-corporate Loretta Lynch). Since Obama's increasingly rightward slide, it appears less and less likely that that capitalist Mafia will be held accountable. One can only hope that what little pro-citizen powers are embedded in Dodd-Frank will be cultivated and allowed to flourish. If Bernie is elected President, then I am confident that he will unleash Elizabeth Warren into combat the way Eisenhower unleashed Patton after D-Day.