10-30-2008, 01:27 PM
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#88
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Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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Originally Posted by tw
Some of the so many posted previously in other threads.
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Point to ONE. Just ONE.
http://online.wsj.com/article/SB122403045717834693.html
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While there has been significant deregulation in the U.S. economy during the last 30 years, none of it has occurred in the financial sector. Indeed, the only significant legislation with any effect on financial risk-taking was the Federal Deposit Insurance Corporation Improvement Act of 1991, adopted during the first Bush administration in the wake of the collapse of the savings and loans (S&Ls). FDICIA, however, substantially tightened commercial bank and S&L regulations, including prompt corrective action when a bank's capital declines below adequate levels and severe personal fines if management violates laws or regulations.
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. . .
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Originally Posted by tw
Basel 1 that defines equity required to be held. Investment banks were exempted from this international standard by the George Jr administration. ... But George Jr refused to implement Basel 2.
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[citation needed]
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