Bush’s “Market Stabilty” Plan

Saturday, March 29, 2008
Posted in category Uncategorized
Comments Off

The financial and regulatory news continues to unravel like a bad sci-fi movie.

The Fed would become the government’s “market stability regulator,” given sweeping powers to gather information on a wide range of institutions so that Fed Chairman Ben Bernanke and his colleagues could better detect where threats to the system might be hiding.

…Under Paulson’s approach, the Fed would serve as the market stability regulator and there would also be a financial regulator that would focus on financial institutions that operate with government guarantees such as deposit insurance for banks.

The administration plan also proposes a business conduct regulator who would be in charge of overseeing consumer protection issues.

But remember, Bush “isn’t open” to government intervention in the economy.

Be Sociable, Share!
Both comments and pings are currently closed.