Oversight, not superfund, will help struggling economy

11/13/2007 | Wall Street Journal, The

A Treasury-backed proposal for three big banks to set up a superfund aimed at buying troubled structured investment vehicles "is neither needed nor likely to work," Henry Kaufman writes in a Wall Street Journal commentary. Kaufman adds that Federal Reserve efforts to stem a recession through monetary-policy moves will also fall short. Kaufman concludes by calling for more oversight of banks.

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