Episode Information

When the Senate returns next week after a two week recess—they’ll take up financial reform. Stuck in committee for months, Senator Chris Dodd finally unveiled a bill that, among other things, calls for the creation of a Consumer Financial Protection Agency within the Federal Reserve. Some worry that the legislation won't do enough to put an end to “too big to fail” and the culture of bank bailouts. Bankers, on the other hand, say financial reform will jeopardize the soundness of banks. Today, we'll talk with Elizabeth Warren. She’s a professor of Law at Harvard University and is the chairwoman of the TARP Oversight Panel. She says the Senate basically faces a choice between banks and families.