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I always said, if you're going to do true finance reform, you've got to get rid of all soft money.
Many of Kuttner's particulars ring true: finance in America reached a point of complexity that benefited only traders; short-term loans destabilize developing countries; markets need regulation or they go off the rails.
The figures were found by examining the public reports of the biggest coal mining and coal-fired power generation companies, and the true finance figures are likely to be much higher.
True, finance has been whupped by presidents before.
For months after she emerged from insolvency last fall, 6 to 10 new credit card and auto loan offers arrived every week that specifically mentioned her bankruptcy and, despite her poor credit history, dangled a range of seemingly too-good-to-be-true financing options.
This was never true; federal financing, other financing and pro bono have never met more than 30percentt of the legal needs of the poor.
True, state financing of higher education has been cut by hundreds of millions of dollars this fiscal year, but it is also true that tuition easily outpaced inflation before such reductions.
The same holds true for financing big wind farms.
In the longer run, we need true public financing of election campaigns in which small donor donations are matched about 10-1 by public funds.
Fairly typical was a classified ad in a Texas newspaper in 2000 that proclaimed: "American Dream Come True!! Land/Home Financing with Low Down Payment and Low Interest".
The same is true in finance.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com