Bair: Single-regulator plans won't work

09/1/2009 | NYTimes.com

Creating a single financial regulator is not the solution as Congress and the Obama administration debate financial-regulatory reform, Federal Deposit Insurance Corp. Chairwoman Sheila Bair writes in a New York Times commentary. "Calls for consolidation beyond the administration's plan fail to identify the real roots of last year's financial meltdown. The truth is, no regulatory structure -- be it a single regulator as in Britain or the multiregulator system we have in the U.S. -- performed well in the crisis," she wrote.

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