A new ball game for regs
In what is being described as the most sweeping regulatory overhaul since the 1930s, President Obama on Wednesday introduced his blue print for a new regulatory environment in a Treasury document titled: Financial Regulatory Reform, A new Foundation: Rebuilding Financial Supervision and Regulation.
The size and scope of the recommendations ensured that most of the initial responses by industry insiders were positive affirmations of the general principles. After all there will be plenty of time to tear it apart and given its enormous scope and the realities of the sausage making process of legislation, the likelihood of the recommendations becoming law anytime soon is pretty slim.
