Letters to the Editor
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Dotted with Poison Pills
There is a long and winding road any reform of financial regulation must travel, therefore I wouldn't put much stock in what is actually here. This particular proposal would not be taken seriously if it weren't for the current crisis. It is worth remembering that this initiative had nothing to do with the credit crunch. The Treasury's review of financial regulatory structure was started back in the halcion days when dealers in subprime securities still had a license to print money. So please remember that this is nothing more than an ideological document, rebranded as a response to the crisis to give it more traction.