April 8, 2013 |
Already months behind schedule, federal regulators charged with establishing the rules to implement new online crowdfunding portals still cannot say when they will issue those guidelines. On Monday, the frustration from entrepreneurs, investors and those trying to build those financing portals was on full display at a forum in Washington. During the event, David Blass, a chief counsel at the Securities and Exchange Commission, said his team is working diligently to craft regulations required to give the go-ahead...
April 2, 2008 |
It was Hank Paulson's bad luck that he launched the Treasury's work on a new "blueprint" for financial market regulation just as the worst credit bubble in history was about to reveal how badly the regulators had blown it. Paulson and his confederates, Robert Steel and David Nason, originally set out to update and streamline a regulatory apparatus that had failed to keep up with changes in global financial markets and bring a lighter touch to...
August 5, 2009 |
The nation's banking regulators are defying pressure from the Obama administration to line up in support of key proposed reforms, testifying before Congress on Tuesday that elements of the plan would actually weaken oversight of the financial industry. Treasury Secretary Timothy F. Geithner summoned the heads of half a dozen agencies for a caustic scolding Friday and told them they were interfering unacceptably in a political process, according to people familiar with the meeting.
August 6, 2009 |
With his "stimulus" bill, "cap and trade" solution to global warming, and proposed government takeover of health care, President Obama has made no secret of his desire to expand the size, role and budgets of federal health and safety regulators. Yet this summer, in a largely unreported action, the president took a radical step toward weakening the authority of federal health and safety regulators throughout the government. The president issued a memorandum to all federal agencies May 20, telling them, in effect,...
February 7, 2009 |
Insurance regulators from across the country were scrambling yesterday to address a growing threat to insurance companies and the consumers who depend on them. As the industry's financial condition deteriorates, many companies have asked their home-state regulators for permission to change the way they measure and report their financial strength. Some regulators have expressed a willingness to grant it. The requests have been pouring in since the National Association of Insurance Commissioners last...
March 21, 2011
Lloyd Eby's March 19 letter, " There's no such thing as disinterested regulators, " argued that governmental regulation cannot be "disinterested" since every regulation "is set up for and in support of some interest, and every regulator has an interest in whatever he or she is doing. " This is akin to suggesting that we should not have criminal laws because police officers "might be self-interested" in their jobs and might be bad guys to boot. But we nonetheless have police officers enforce the laws because society...