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Obama Adopts Volcker's Solution: If Banks Want Govt. Guarantees, They Have to Close Their Casino Operations

Obama's endorsement of Volcker's plan is truly an extraordinary step forward for economic policy, but there's a long way to go.

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And Obama's new path indicates that he understands, finally, what all the fuss is about. Americans are sick and tired of watching their economy be hijacked by banking behemoths and seeing their democracy undermined by big bank lobbyists. Now Obama needs to show us that he has the courage to push through meaningful reform.

Zach Carter writes a weekly blog on the economy for The Media Consortium. His work has appeared in The American Prospect, The Atlanta Journal-Constitution and on CNBC.

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