“Even as Treasury Secretary Timothy F. Geithner yesterday was presenting to Congress his new blueprint for revamping financial oversight, federal regulators at the Securities and Exchange Commission and elsewhere were joining the battle over the creation and apportionment of any expanded powers. The Obama administration wants Congress to vastly expand federal oversight of previously unregulated financial markets such as trading in derivatives, and to impose more rigorous regulations and curbs on risk-taking by the largest financial companies, including major banks, insurers and hedge funds.” (Washington Post, Friday)
Guess who gets hurt in the regulatory turf wars?
FEE Timely Classic
“Regulation and Productivity” by John Hospers