Tuesday, March 18, 2008
The SEC has been on the sidelines after its Friday announcement that it was keeping a close watch on Bear Stearn's financial condition, as the Fed stepped in to engineer a bailout and attempt to restore confidence in the markets. This makes sense as only the Fed has the money to supply in a liquidity crisis. But with the finger-pointing over who should have done what sooner may well come calls for a unified system of financial-services regulation. WSJ, Crisis Highlights SEC's Limits.