The Obama administration is finally getting around to reforming our financial system, right when the underlying anger about banking may be relenting.
The experts who judge our economy believe that we may be about to exit this recession. Ben Bernanke said as much today during a talk at the Brookings Institution. He believes that unemployment has reached its peak, that we can expect moderate growth, and that consumer confidence is coming back. All of that would point to a rebound. Granted, the evidence is still not visible on Main Street - unemployment tops 10 percent in much of the country. In North Carolina, unemployment is currently 11 percent. In foreclosure-rich states like California and Florida, unemployment has increased approximately 60 percent from July 2008.
Today is significant for a few reasons - for one, it marks the one year anniversary of the collapse of Lehman Brothers.