Demand Grows For Overhaul Of Financial Regulation

Law360, New York (March 27, 2008, 12:00 AM EDT) -- Calls to strengthen oversight of U.S. financial markets increased dramatically this week from regulators, lawmakers, presidential candidates and industry groups, pointing to a growing consensus in Washington that some kind of regulatory reform is needed.

Prompted by the spectacular collapse of Bear Stearns Cos., lawmakers also vowed to examine the potential implications of the dramatic buyout of the once high-flying investment bank by JP Morgan Chase & Co., aided by a nearly $30 billion credit line from the Federal Reserve.

Senate Finance Committee Chairman Max Baucus...
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