Wednesday, July 16, 2008

Fannie Mae and the limits of public obligation

Fannie Mae and the limits of public obligation:
"The problem is that the difference between government powers and government responsibility can be addressed by increasing the powers or reducing the responsibility. We should do the latter."

John Kay looks at the regulation of the financial services industry. Despite his plea, it looks much more likely that it will be the former rather than the latter.

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