Tuesday, June 9, 2009

Reuters: Regulation Not Really On the Fast Track

This may come as some surprise to some of you but there are plenty of lobbyists banks opponents to the Obama Administration's plan to overhaul the regulatory system that will be rolled out next week.


"Targeting not only banks and markets for change, but also executive pay, hedge funds and so-called "systemic risk" to the economy, the Obama plan has been evolving for six months."

Don't you love how Reuters questions the whole notion of systemic risk? We should have just the chips fall and maybe we'd all be bartering for our groceries. Yeah, that sounds awesome.

"Regulatory reform will center mostly on turf fights and political infighting," said Jaret Seiberg, financial services policy analyst at research firm Concept Capital. "The odds are less than one-in-five that a massive financial reform bill will be enacted."

What the dude is trying to say is that the bureaucracies are going to get into some dick-measuring contests and Obama will get a watered down reform bill. Okay, so normal politics. Moving on...

*BTW, doesn't BO look like he's relishing in Timmy's cologne? Possibly Antidote? Discuss.

Steep climb ahead for U.S. financial reforms
[Reuters] Sphere: Related Content

1 comment: