Thursday, December 07, 2006
US financial sector policy questions
I had earlier blogged about a great speech by Paulson which addresses the widely perceived sense that London has emerged as the world's #1 financial centre. On this subject, there is a report by the bipartisan `Committee on Capital Markets Regulation' which is of great interest. While the outside world sees a contest between the US-style rules-based framework versus the UK-style principles-based framework, the thinking end of the US system appears to be persuaded that emulating the UK is desirable.