As Senate Takes Up Financial Reform Bill, a Look Inside the Sausage
the Monitor's Board, The Christian Science Monitor
The Dodd-Frank financial reform bill leaves too much discretion to regulators, creating the risk of regulation uncertainty for an industry that needs less risk, not more.
If one's grasp of history can deter a repeat of it, then a nutshell review of the 2007-09 financial crisis is now needed as Congress nears passage of a massive Wall Street reform bill.
The crisis grew out of a ramp up of federal support for mortgages to home buyers who were either unworthy to take on big debt or unaware of their loan's details. These shaky purchases helped create a housing bubble, while the iffy mortgages were snatched up blindly by Wall Street investors. The risks were magnified …
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Publication information: Article title: As Senate Takes Up Financial Reform Bill, a Look Inside the Sausage. Contributors: the Monitor's Board - Author. Newspaper title: The Christian Science Monitor. Publication date: July 13, 2010. Page number: Not available. © 2009 The Christian Science Publishing Society. Provided by ProQuest LLC. All Rights Reserved.
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