Friday, July 30, 2010
IMF: Reform law fails to simplify the complex U.S. regulatory system
The U.S. law to overhaul financial regulation leaves the fate of mortgage giants Fannie Mae and Freddie Mac undecided and does not simplify the complicated system that governs securities and banking, the International Monetary Fund said. How the law is implemented will determine whether it accomplishes its objectives, the IMF said. The New York Times. Ha, at last someone noticed this and we haven't even begun the myriad of studies that have to be done as part of this.