Wednesday, February 25, 2009
President Obama calls for a sweeping reform of Wall St. regulations to avoid a repeat of the financial meltdown. According to the President, the economy cannot sustain 21st century markets with 20th century regulation. The question is, of course, what kind of regulation are we talking about? Specifically, is this the regulatory mode presented by Treasury Secretary Paulson in the March 2008 Blueprint, or some plan that will be more protective of investors who have lost so much in the financial meltdown? NYTimes, Obama Urges Quick Action on Wall Street Reform.
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