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GAAP.RUNewsFinancial reform in the US stalled by the new regulator’s authorities

Financial reform in the US stalled by the new regulator’s authorities

Publication date: 2 March 2010

The US Senate is still too slow with approval of amendments to the law on financial regulation that were proposed by the White House “chief” Barack Obama. The main point of disagreement here are authoritative powers of the new financial markets regulator.

Barack Obama’s plan for financial reform of financial regulation to overcome consequences of the financial and banking crisis is stalled by disagreements in the US Senate, and is also criticized by George Soros.