How the Obama Administration should Regulate the Financial Sector
Yale University - Law School
February 26, 2009
Yale Law & Economics Research Paper No. 376
The Obama Administration will be looking to the financial regulatory apparatus to prevent future economic crises like the one the country is experiencing right now. This is a very ambitious objective to impose on any regulator. Much ink has been spilled in addressing how the financial regulatory apparatus should be constructed going forward. The focus has been on consolidating the multiple agencies with overlapping jurisdictions that oversee the financial services industry. Whatever their final form, we can identify certain key attributes these ultimate financial regulators should have to give them at least some hope of doing the proactive, forward-looking thinking the Administration will need them to perform: the right people at the agencies, enough access to the institutions they regulate, enough information from those institutions to know what is happening, an internal brain trust to analyze and assess that information, and a rapid reaction team to respond to financial emergencies.
Number of Pages in PDF File: 11
Keywords: Banking Regulation, Financial Regulation
JEL Classification: K22, K23, G21, G28
Date posted: February 26, 2009 ; Last revised: March 20, 2009
© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo5 in 0.313 seconds