New Jersey Governor Chris Christie appears pragmatic and New York City Mayor-Elect Bill De Blasio appears ideological only in comparison with their own parties, Reich writes. But in terms of where America is and what it needs, now and in the foreseeable future, these two labels should be reversed.
Five years after the worst crisis since the 1930s, America has devised safeguards and changed the rules of Wall Street. But could the country really avoid another financial collapse?
President Obama wants to reduce the government's role in the mortgage giant by phasing out mortgage financing giants Fannie Mae and Freddie Mac. The idea has broad support, but interest rates on home loans would go up, especially for low-income families.