Monday, March 15, 2010
banking regulation proposal
Apparently Senator Dodd of Connecticut has proposed a new bill to make sure that what happened in 2008 won't happen again. The banks were too big to fail and were completely unregulated. I see his point. I would like to note, however, that the new regulatory office he is proposing will need to have actual enforcement power. Otherwise it's just a sop.
Subscribe to:
Post Comments (Atom)
Our recent difficulties seem to make it clear that we need either new laws/regulations and/or much better enforcement of those that exist. It appears to me that the only logical argument to the contrary is that collapses like this are part of the inevitable price we pay for capitalism. I have yet to hear that argument or any coherent argument against more effective regulation. Anybody think the have one? I'm all ears.
ReplyDelete