Debate Brews Over Obama Regulatory Reform Plan

Law360, New York (June 30, 2009, 12:00 AM EDT) -- President Obama, on June 17, 2009, following in the footsteps of Treasury Departments going back a half century, announced his Administration's plan to improve the effectiveness of the federal regulatory structure. Treasury released the plan in the form of a Treasury paper titled "A New Foundation: Rebuilding Financial Supervision and Regulation."

Among the factors that it identifies as contributing to the current economic turmoil are:

— Ill-defined regulatory responsibility regarding systemic threats.

— Inadequate supervision of large financial organizations.

— Inadequate attention to the protection of...
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