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One way banks avoid government regulation

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One way banks avoid government regulation [#permalink] New post 22 Jan 2009, 06:41
Interesting article from the WaPo:

http://www.washingtonpost.com/wp-dyn/co ... id=topnews

<quote>At least 30 banks since 2000 have escaped federal regulatory action by walking away from their federal regulators and moving under state supervision, taking advantage of a long-standing system that allows banks to choose between federal and state oversight, according to a Washington Post review of government records. </quote>

Obviously government regulation of the banking sector is needed, and now that grown-ups are in charge again, they'll really have to take the gloves off to get this industry under control. It's really disappointing that the leaders of such a critical industry consistently put the public good behind their own short-term gain.
One way banks avoid government regulation   [#permalink] 22 Jan 2009, 06:41
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