Happy Inauguration Day!

Although it wasn't planned this way, I'm happy to be making my inaugural post on January 20, 2009. More than New Years Day, this day really does seem to be about new beginnings and possibilities.

I'm also struck with the enormity of the task that lies ahead. And that's just in creating a new system for regulating the financial services industry that really works. I'm reminded of the occasion on which President Roosevelt reportedly told the great labor leader A. Philip Randolph, "I agree with everything that you've said . . . . but I would ask one thing of you Mr. Randolph, and that is go out and make me do it." 

That's our task - to go out and make President Obama do what needs to be done to bring the financial services industry, which has the capacity to do so much good and and also to wreak so much havoc, under the control of "we the people."

President Obama's appointments in this area, Mr. Geithner, Mr. Summers and now reportedly, Mr. Sunstein may give us pause, but the only way to move towards a financial services regulatory framework that will put people first, is to keep on working and saying, "Yes we can!"

Bankbane