tag:blogger.com,1999:blog-7269993620761104727.post3487363781658062016..comments2023-11-03T03:30:46.909-04:00Comments on The ConservativeXpress: VIDEO: Rep. Manzullo Slams Geithner, "Do you realize how radical your proposal is?"ConservativeXpresshttp://www.blogger.com/profile/14639174320471804514noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7269993620761104727.post-72467315762440432722009-03-26T20:13:00.000-04:002009-03-26T20:13:00.000-04:00I think a couple of points are in order - We have ...I think a couple of points are in order<BR/><BR/> - We have a patchwork of regulators for financial services companies that clearly hasn't served us well. Almost all countries globally have some central/single regulatory. I mean AIG was regulated by teh state insurance dept of NY who didn't understand CDS.<BR/><BR/> - One of the problems we have is that we don't have insolvency regimes for dealing with large complicated financial instutions as was amply demonstrated with Lehman and to a large extent with AIG. The uncertainty on how we deal with this is I think a large part of the problem in the financial world. No one wants to get stuck holding debt issued by the next Lehamn, though have the govt guarantee it all is probably right either.<BR/><BR/>I've not read the plan but most of this I think is ho-hum, a centralized CDS exchange for example is supported widely.Unknownhttps://www.blogger.com/profile/05690390019396901934noreply@blogger.com