The U.S. Treasury has unveiled part one of its plans for regulatory reform in the wake of the financial crisis, focusing on systemic risk and bringing oversight to certain otherwise unregulated activities.In Congressional testimony Thursday, Treasury Secretary Tim Geithner outlined five major steps it plans to take to reform financial regulation in an effort to […]
Calls for the U.S. government to implement spending that extends into the medium-term
Policymakers must correct supply and demand imbalances
Public-Private Investment Plan to buy legacy assets from banks
Regulators failed to get companies to correct weaknesses in risk management
Action needed to remove troubled assets from banks’ balance sheets
Countries need to work together to ensure consistent global regulation
Global economies to struggle into 2010
Credit easing measures in each of the major countries can be expected
Consolidating securities regulation would further strengthen stability framework