Grayson: Only 1 Agency Should Regulate Wall Street

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July 10 (Bloomberg Law) -- U.S. Representative Alan Grayson, Democrat from Florida, tells Bloomberg Law's Lee Pacchia that the government missed an opportunity in the midst of the financial crisis to consolidate the regulatory agencies overseeing Wall Street into a single agency, a move that some say would save the federal government time and money. "There is instability that's built into the [financial] system, there are booms and busts, and the responsibility for ameliorating that problem should be centralized," he See more +
July 10 (Bloomberg Law) -- U.S. Representative Alan Grayson, Democrat from Florida, tells Bloomberg Law's Lee Pacchia that the government missed an opportunity in the midst of the financial crisis to consolidate the regulatory agencies overseeing Wall Street into a single agency, a move that some say would save the federal government time and money. "There is instability that's built into the [financial] system, there are booms and busts, and the responsibility for ameliorating that problem should be centralized," he says.

Rep. Grayson also comments on recent efforts within Congress to deregulate the derivatives markets and media speculation surrounding a hypothetical appointment of Larry Summers as Chairman of the Federal Reserve. See less -

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Topics:  Alan Grayson, Economic Downturn, Regulatory Standards, Wall Street

Published In: Constitutional Law Updates, Construction Updates, Elections & Politics Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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