Tuesday, June 16, 2009

Obama To Unveil Regulatory Overhaul

The Obama administration will unveil its regulatory reform package tomorrow.

Opposition to financial regulatory revamp likely despite compromises
The Obama administration has already scaled back its proposed overhaul of the financial regulatory system, but some of the initiatives are still expected to face opposition. The proposal includes establishing a systemic federal regulator, providing greater oversight for derivatives and giving the government the authority to seize large institutions. "I think this is significant; I think they're headed in the right direction," said Lawrence White, a former economist and regulator at the White House. "They're trying to go up with a politically feasible proposal rather than a pie-in-the-sky one."

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