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SIFMA SmartBrief

December 13, 2007

Editor's Viewpoint

Looking ahead to 2008
Today we return with Part II of the SIFMA SmartBrief special year-end report. Part I of this year-end report, published Tuesday, brought you a summary of the most important trends, stories and events of the past year. In today's Part II, we take a look at the issues that will shape our industry in 2008.

The credit crunch and hedge fund fallout will surely continue to make headlines during 2008. It will be interesting to see what impact the market turmoil has on the regulatory and legislative agenda. Federal Reserve Chairman Ben S. Bernanke's promise of a more transparent policy process will add a new element to how the markets react both before and after anticipated Fed action. Over at the SEC, questions remain over who will fill the vacant commissioner posts and how their ascension likely will affect how the SEC operates.

The coming year will no doubt be an interesting one for our industry. I hope you continue to turn to SIFMA SmartBrief for your daily dose of all the latest news and insight.

Your Predictions

What was the most important industry news of 2007?

The merger of NYSE and NASD to form FINRA -- 9%

Merger of NYSE and Euronext -- 3%

U.S. competitiveness -- 2%

Hedge fund fallout -- 4%

Credit crunch -- 82%

What do you think will be the most important issue affecting the industry in 2008?

Hedge fund regulation -- 9%

Credit crunch -- 68%

Global competitiveness -- 14%

Regulatory harmonization -- 9%

Do you think the federal government's response to the credit crunch will be effective?

Yes -- 27%

No -- 73%

Do you think the U.S. economy is heading toward a recession?

Yes -- 63%

No -- 37%

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