(Blog Post) Some on the left seem somewhat disappointed in the administration’s regulatory reform proposals. I think that’s misguided, and it comes from probably expecting too much from prophylactic regulation. Full Story »
Posted by Kaizar Campwala
Yglesias argues that liberals disappointed by the scope of Obama's financial regulation overhaul aren't considering the limitations of more comprehensive 'prophylactic' regulations in actually being effective. He also highlights what he considers the most important element of the plan, a "legal process for the “resolution” of large, complicated financial firms."
most important of all, I think, is the idea of creating a clear legal process for the “resolution” of large, complicated financial firms. This is the one aspect of the ... More »
This is short but very good. I have a better understanding now about why it is that the Obama admin didn't go farther with their regulatory plan. I may not agree with it, but I can understand their thinking better.
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