US Treasury Secretary Henry Paulson has suggested need for new regulations for banks on Wall Street. He said that if big Wall Street investment houses are allowed to run to the FED for emergency lending, they must face stepped-up regulation. The Bush administration has hinted that it will put forth an oversight blueprint to promote smoother functioning of financial markets. Commercial banks are subject to regulations, including bank examinations and rules for submitting detailed information. The U.S. financial system has become a complex web of institutions, individuals and practices subject to widely different rules. The FED recently said it would let Wall Street investment houses come to it directly for emergency loans, which practice has been for many years limited to commercial banks.
Posted by Harrison K. Long, Explore Real Estate, March 28, 2008
[Source: The Orange County Register]
Summit Realty Group, Inc. - Newport Beach, CA
I am not so sure that the overhaul will actually make any changes, but getting rid of the thrift supervision is a start.
Mar 29, 2008 04:32 AM
Rainmaker
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Harrison K. Long
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