Who is going to write up and circulate a proposal?
Isn't the Federal Reserve, the chief regulator, a good place to start? Too political?
Somebody has to take up the ball. Afterall, you've been saying this for six months now, already. Why is there no sense of urgency?:
First, AIG highlights the urgent need for new resolution procedures for systemically important nonbank financial firms. If a federal agency had had such tools on September 16, they could have been used to put AIG into conservatorship or receivership, unwind it slowly, protect policyholders, and impose haircuts on creditors and counterparties as appropriate.
-Fed Chairmen, Ben Bernanke, AIG Testimony, March 2009.
-Fed Chairmen, Ben Bernanke, AIG Testimony, March 2009.
Another thing left undone by Paulson & Co...
