Jubak on the Paulson Plan

Wednesday, April 02, 2008 | 03:00 AM

Jim Jubak calls the Reform plan rally proof that there is nothing to it, other than business as usual.

click for video
Reform plan rally, no fix
Reform plan rally, no fix

via MSN Money

Wednesday, April 02, 2008 | 03:00 AM | Permalink | Comments (11) | TrackBack (0)
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Jim and you obviously have a point if the shadow-banking system isn't regulated as the result of this. There's where I disagree. In talking with folks in the banking business who are subject to Fed audits and data reviews they are time-consuming, expensive, scary and onerous (not next to gullible). Once the Fed is inside the non-bank banks we'll get regulation even if JJ think we won't at the start. Plus the re-structuring, consolidation and re-missioning of the oversight groups will move it all that direction.
Here's the real thing though - and my proposal - supervision of the shadow system is in all our interests. The lack of adult supervision has proven dangerous as somebody has said. But is inspection the best mechanism - why not require the non-bank banks to take out insurance and/or post performance bonds and create an incentive to do their own policing; i.e. put the market's de-centralized information collection and coordination mechanisms to work for the new regulations rather than against them.

Posted by: dblwyo | Apr 2, 2008 6:38:20 AM

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