Word: oversights
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...proposed regulating the burgeoning derivatives market, the banking lobby, with some help from hedge funds and investment banks, quickly thwarted the measure. And Cox's predecessor at the SEC, William Donaldson, encountered stiff opposition when he tried to push more pro-shareholder measures and subject hedge funds to more oversight. When a court struck down Donaldson's hedge fund registration rule, Cox announced that the SEC would not seek to appeal the ruling - he took the same no-appeal tact when a court shot down an SEC effort to make mutual funds appoint independent chairman. On the other hand, certain...
...bailout may not reassure anyone. Paulson argued that the Bush Administration's plan is "the single most effective thing we can do to help homeowners, the American people, and stimulate our economy." And he stressed that despite fears on Capitol Hill, he does believe there should be some oversight of the unprecedented bailout. But Democrat Chris Dodd of Connecticut declared, "It is not just our economy at risk but our Constitution as well," while ranking minority member Richard Shelby of Alabama, a vocal critic of the plan, said, "I have long opposed government bailouts for individuals and corporate America alike...
...telling. Candidates simply don't suffer for making false claims, unless those claims become part of a narrative that casts them as untrustworthy. Even then, they often choose to keep running the offending ads, knowing full well that the power of a 30-sec. spot will always outweigh media oversight. And the potential upside of making false claims about an opponent can be great, especially for a candidate who finds himself behind...
...Know anyone who is in favor of naked greed? Whoever wins will face a massive job of righting the financial ship and restoring confidence that has been badly shaken. The next President will have to cast away partisan predispositions and add the just-right measure of regulation and oversight to the mix. As Treasury Secretary (and former Goldman Sachs chief executive) Paulson recently said, "Raw capitalism is dead...
...laden, unregulated environment in which these companies—such as Bear Stearns, Lehman Brothers, and a host of other Wall Street firms—have been operating is completely unacceptable. While we do not support unbridled regulation of the market, in some instances it is indeed necessary. Government oversight is particularly important in sectors and for companies that have a broad and direct impact on everyday Americans. Look to the sub-prime mortgage markets as an example. The clear greed and corruption that led to unprecedented profits via severely leveraged transactions, all in the pursuit of pushing the sheets...