IMF: Reform law fails to simplify the complex regulatory system

07/30/2010 | New York Times (tiered subscription model), The

The law to overhaul financial regulation leaves the fate of mortgage giants Fannie Mae and Freddie Mac undecided and does not simplify the complicated system that governs securities and banking, the International Monetary Fund said. How the law is implemented will determine whether it accomplishes its objectives, the IMF said.

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