Paulson Unveils Plan To Curb Market Excesses

Law360, New York (March 13, 2008, 12:00 AM EDT) -- Citing "market excesses" as one reason for the U.S. economy's current turmoil, the nation's top economic policy makers on Thursday made recommendations for reform, calling for better credit rating practices while downplaying the instability of hedge funds.

Secretary of the Treasury Henry M. Paulson Jr., summarized key points of the 20-page study, prepared by the President's Working Group on Financial Markets, at a press conference and promised continued vigilance on the part of policymakers.

Paulson said the group “has been reviewing policy issues to help reduce...
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