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Washington Moves to Muzzle Wall Street
This was the week that Washington decided to muzzle Wall Street. Specifically, the Obama administration revealed a sweeping series of new proposed regulations and reforms — all designed to prevent the next great financial catastrophe.
The plan is multi-faceted and complex. Among other things, it aims to increase the Fed’s power, regulate the derivatives and securitization markets more effectively, protect consumers from the potential harm of complex financial products, and more. It’s been a long time in the making, with input from key policymakers, consumer groups, academics, and others.
Will these reforms work? Will they hamper innovation? Will they have unintended consequences,…
19Jun2009 | Money and Markets | 0 comments | Continued
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