At the height of the credit market crisis last year, there were loud calls for dramatic changes in the regulation of financial institutions. Now that the sturm und drang has ceased, the reforms that will be realized will be much tamer.
Today the Treasury Department released a small torrent of information on the proposed changes to the financial regulatory landscape. Although there are some helpful reforms, overall it isn’t the sort of sweeping, Rooseveltian change that felt like it might be in the offing six months ago. Presumably, the proposal has been made less radical to help it slip …Read More