US Plans finance system overhaul
 

US plans finance system overhaul

Henry Paulson wants the financial system to be more competitive


Treasury secretary
The US Treasury has revealed its blueprint for the biggest overhaul of regulation of the financial sector since the 1930s.

Critics have said that the credit crunch and resultant market turmoil made a strong case for change.

But Treasury Secretary Henry Paulson rejected claims that existing regulations have led to the turmoil.

And he said the plan should not be implemented until current difficulties roiling financial markets are resolved.





I bet they'll still fuck it up

That's what we do.

If it is approved it will not go into effect for a year to two years and it will take eight to ten years to show any affect one way or another...at least that is what the "experts" are saying.

So basically too late, at least America is working alot quicker than the UK did with Northern Rock etc.