Tuesday, March 16, 2010
Reform Bill Adds Layers of Oversight
This article focuses on a bill that has been put forward by Senate Democrats and backed by the Obama administration that calls for financial regulations and a larger government role in Wall Street. This is not uncommon, usually when free markets fail there is a call for more government regulation, however this regulation should not take away incentives to for profits or efficiency.
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2 comments:
this landmark legislation is definitely something to be looking at. It will be interesting to see how much oversight powers the Fed will still have when the legislation passes.
I think that in the US case some incentives to make profits should be taken away; not by creating dead weight but by making incentives for profit reconcile themselves with NOT screwing over homeowners.
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