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Federal Regulators: I Would Prefer Not To

Adam Rust's picture

Posted September 11, 2009

Tomorrow is the North Carolina literary festival.  In the spirit of that festival, or perhaps because the weekend is approaching, or perhaps because someone needs to say it...I propose a literary reference to our current regulatory regime in the financial markets.

As you may or may not know, many feel that our financial regulatory system was asleep at the wheel during the last decade.  Subprime mortgage lending grew rampantly, and even though there was plenty of data to demonstrate that it would lead to problems, very

GAO: Regulators should Regulate

Adam Rust's picture

Posted August 17, 2009

The GAO has spoken, but will the regulators listen?

The General Accounting Office issued a blistering report that put much of the blame for our financial crisis on the feet of the regulatory agencies. The GAO also made some specific policy suggestions.  Many of those proposals, incidentally, are contained in some form within the Consumer Financial Protection Act (CFPA).

The GAO said that both a lack of adequate data collection and a system that is too broken up were important in

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