America’s regulatory reforms: Obama’s opening shot
HAVING spent much of the past year putting out fires, America’s leaders are now turning their attention to preventing future blazes. Barack Obama unveiled proposals on Wednesday June 17th that would refashion the federal rules governing almost every corner of finance, pushing government much more deeply into private markets and partially rolling back a quarter-century of liberalisation. Full Story »
Posted by Derek Hawkins
My only problem is with the context: the OTS was also the oversight body for AIG as well as the other Thrifts mentioned. OTS was the smallest of the oversight agencies and has never had enough staff to properly supervise. This is a major problem--as given in my quote--and a major weakness of the legislation. In all, isn't this really the Big Foxes overseeing the little foxes guarding the hen house?