Triumph of the Regulators
From Discourse DB
This is an opinion item.
| Author(s) | The Wall Street Journal editorial board |
|---|---|
| Source | The Wall Street Journal |
| Date | June 28, 2010 |
| URL | http://online.wsj.com/article/SB10001424052748703615104575328993006115992.html |
| Quote | "The Treasury, which bailed out institutions willy-nilly without consistent rules, will now lead the Financial Stability Oversight Council that will have the arbitrary power to define which financial companies pose a "systemic risk" and which can be shut down without recourse to bankruptcy. Willy-nilly will now be the law. And the SEC, which created the credit-ratings oligopoly and missed Bernie Madoff, will get new powers to decide how easy it should be for union pension funds to get their candidates on corporate proxy ballots."
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This item argues against the position Act should be passed on the topic Restoring American Financial Stability Act.
