Trader-Turned-Author Nomi Prins on Financial Reform (Video)

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Nomi Prins, former Wall Street trader and author of It Takes a Pillage, says that the current financial reform legislation is like throwing your extra junk in the attic and pretending that your house is clean. She says that it allows banks to keep all sorts of securities off their balance sheets—that it does nothing to prevent, in short, the kind of shady dealings that helped land us in this financial mess to begin with.

Together with Roosevelt Institute Fellow and blogger Mike Konczal, Nomi joins Laura in studio to discuss the financial reform legislation, its chances of passage, and what it would do—and wouldn’t.