Let the Regulation Begin

March 28th, 2008 9:30 pm | by John Jansen |

The NYTimes will carry a story tomorrow which details the Administation’s proposal to expand the scope of Federal Reserve regulatory powers. This is obviously an historic step and will spark heated debate about the level of oversight necessary to forestall another financial crisis. This will be the first in what will be an arduous process of redefing the role of the central bank in a new century. (I think there was a subprime lender named New Century which vaporized very early in this process.)

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