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Baffled by the financial mess? GAO lays out the issues

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Many of us may have been baffled by the whole financial mass — it’s just so confusing. But one of the issues that doesn’t seem to get much attention is what are we doing — or what can we do — to ensure that we don’t get into this situation again. Many people are simply pitching this as a too-much or too-little regulation debate, which just seems simplistic to me.

The Government Accountability Office today issued a report that does the best job that I’ve seen providing background of the situation and the United States’ outdated regulatory framework. The report is titled, Financial Regulation: A framework for crating and assessing proposals to modernize the outdated U.S. financial regulatory system… and today on Federal News Radio 1500 AM’s Daily Debrief with Chris Dorobek and Amy Morris, we’re going to talk to the author of the report.

The report is long — more than 100 pages — but I learned a whole bunch from it.

View this document on Scribd

Written by cdorobek

January 8, 2009 at 2:35 PM

Posted in oversight, Regulation

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