http://www.nytimes.com/2011/02/09/business/economy/09fed.html?src=un&feedurl=http%3A%2F%2Fjson8.nytimes.com%2Fpages%2Fbusiness%2Feconomy%2Findex.jsonp
The financial reform bill left a lot of the specifics up to regulators. The Fed took a big step forward in identifying firms that put the economy at risk if they were to fail. These firms, mostly banks, will be required to hold more capital to support their assets. The Fed also extended its definition to include large hedge funds and other kinds of firms that represent systemic risk to the economy. This is a major step forward and it got the attention of the firms that were identified. Let the lobbying begin.
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