Treasury Secretary Henry Paulson last week revealed the agency's much-awaited blueprint for modernizing financial services regulation. When the Treasury Department began working on the plan in March 2007, "other than some enthusiastic academics, few noticed," said Paulson, adding that today, "capital markets and financial regulation are on everybody's mind." Noting that the blueprint "addresses complex, long-term issues that should not be decided in the midst of stressful situations and should not be implemented to add greater burden to a market already under strain," he added that the concepts introduced will "require thoughtful discussion." While the 218-page document will be the subject of much scrutiny over the following weeks and months--and observers have suggested that some, if not most, of the recommendations will never be implemented--regulatory, trade group and exchange officials were eager to voice their initial opinions. A sampling of public statements follows.
Christopher Cox, Securities and Exchange Commission chairman
|
