Financial Services Reg Reform
Gordon Burnes 270004HVEW email@example.com | | 0 Comments | 172 Visits
An interesting dynamic has emerged around financial services reg reform. Senator Dodd’s proposal includes creating a separate agency for bank oversight, stripping the Fed of that aspect of its current responsibilities. The Fed is attempting to defend its turf, pointing out that it’s very hard to execute well on a monetary policy mandate without the kind of data that bank regulation gives them (see crisis management, Bank of England). Fed Chair Bernanke has been lobbying his case behind the scenes, speaking directly with members of Congress in one-on-one conversations.