Influential insiders propose tough financial regulations

01/16/2009 | Economist (free content), The

"Financial Reform: A Framework for Financial Stability" was published by the Group of Thirty, which includes Paul Volcker, Larry Summers and Tim Geithner, advisers to U.S. President-elect Barack Obama, as well as European Central Bank President Jean-Claude Trichet. The report lays out proposals for reregulation of the global financial industry. For example, banks deemed systemically important would be held to tough restrictions, namely "strict" capital requirements, on proprietary activities.

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Economist (free content), The

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