Tuesday, August 28, 2007

Calls grows international overview of U.S. markets

Business: Well... under a President Hillary, this would be welcomed with open arms.

Politicians, regulators and financial specialists outside the United States are seeking a role in oversight of American markets, banks and rating agencies in the wake of recent problems related to subprime mortgages.

Their argument is simple: The United States is exporting financial products, but losses to investors in other countries suggest that American regulators are not properly monitoring the products or alerting investors to the risks.

"We need an international approach, and the United States needs to be part of it," said Peter Bofinger, a member of the German government's economics advisory board and a professor at the University of Würzburg.


America will be a part of whatever we decide to be a part of on our own time. Seriously doubt if this was reversed, they would be receptive to the idea. In Summary, go sit over there and be quiet.

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