Senator Jack Reed has some ideas about how to fix the financial system.  At the end of the article below, Reed is quoted as saying,  “Wall Street is all about confidence and trust. With that shattered, our economy continues to feel the effects.”   I couldn't agree more.  As a matter of fact, I think we need to expand on Senator Reed's theme of confidence and trust. 

     Senator Reed is a senior member of the Senate Committee on Banking, Housing and Urban Affairs.  According to opensecrets.org, Senator Reed has accepted $799,385 from the securities and investment industry, and $504,514 from commercial banks.  He accepted more than $1.3 million from companies that often have business before his committee.  Such large contributions should be seen as a conflict of interest.

     This post should not be seen solely as a criticism of Jack Reed.  Instead, it should be a wake-up call for Americans to look at the potential conflicts between Senators and their donors.  If Jack Reed and his colleagues really want to instill confidence and trust, they should consider minimizing or eliminating these conflicts.



http://www.projo.com/business/content/BZ_REED_SEC_01-28-09_42D4060_v9.2dab2d1.html

Jack Reed's Page on OpenSecrets.org
http://www.opensecrets.org/politicians/industries.php?cycle=Career&cid=N00000362