Ron Chernow

Recent Articles

Why Save the Banks? The Ambivalent Liberal's Guide to Reform

Something in the liberal soul recoils from banking reform. Americans of many political stripes tend to view finance as an arcane or venal realm. But because financial issues seem the special concern of the rich, they offer spartan soul food for advocates of the downtrodden. Often, the politics of high finance seems an insider affair among money-grubbing bankers, brokers, and insurers, with nary a worker in sight. The liberal impulse is to constrain banks rather than to strengthen them to serve the real economy.