SEC Not Happy With Proposals

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	SEC Not Happy With Proposals

Brian Wingfield

4-8-2008 9:11 AM

251 views

tags:

sec, paulson, regulation

Brian Wingfield says:

Former SEC chairs don't like Paulson's proposal to overhaul the regulatory system? Not to worry. The administration and Congress know that proposal is going nowhere. Think of it as an academic exercise for a future administration to consider when revamping the financial regulatory system.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c560c34e-a675-455a-8fce-19b4adaec8a2/23C6411F-65A4-4A15-8B82-D38B5123ED5A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aKvSxBAiluCo" href="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aKvSxBAiluCo" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aKvSxBAiluCo"><P>      April 8 (Bloomberg) -- Three former leaders of the U.S.
Securities and Exchange Commission say the Bush administration's
proposed overhaul of financial regulation threatens to weaken the
agency, a process that may already be under way with help from
the SEC itself.    
        </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aKvSxBAiluCo"><P> David Ruder, Arthur Levitt and William Donaldson, all former
SEC chairmen, said a Treasury Department push for the agency to
adopt the regulatory approach of the much smaller Commodity
Futures Trading Commission would be a mistake.    
        </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aKvSxBAiluCo"><P> It's ``not useful'' for the SEC to have ``a prudential-based
attitude in which regulators solve problems by discussing them
informally with market participants and ask them to change,''
Ruder, a Republican SEC chairman under President Ronald Reagan,
said in an interview. ``We have to have an enforcement
approach.''    
        </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/23C6411F-65A4-4A15-8B82-D38B5123ED5A/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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