Legislation being refined by a House-Senate conference after passage by both chambers relies too heavily on regulators such as the Federal Reserve that previously failed, said Richard Breeden, who led the SEC from 1989 to 1993. Congress failed to address emerging threats, such as abuses in the municipal-bond market, that might trigger the next meltdown, said Arthur Levitt, who was SEC chairman from 1993 to 2001.
Regulatory overhaul will not stop next crisis, say Levitt, Breeden
Most Popular Articles
Latest Articles
Ginnie Mae denies majority of complaint in Texas Capital Bank lawsuit
Ginnie Mae admits only to core facts of the case, denying all allegations, “inferences, arguments, and legal conclusions” in the complaint.