Dramatic Antonyms

When Going gets tough, the Fed Gets going …It been over a year and a half since all have been looking out for [some are watching out for] the Fed Res to bring in the new regulatory regime looking to rescue the US economy and the lot of others that the US effects, from major collapses extending the ‘too big to fail’ notion.

Senator Dodd’s new proposal got to the table a bill to empower Fed Res over all major FIs vis-à-vis just banks, against which oversight assets of about $50 billion will be delegated from Fed Res to other federal agencies. And the US President’s office would name the Fed Res President…. [think jazz like Independence of a regulating agency or Non politicizing them?.... too bad, American law makers think otherwise, under the pretext that tax payers don’t end up funding bail outs]. FYI… the Dodd Bill is widely opposed by both the Treasury and Industry for obvious reasons.

While this happens in the Yankee land, in India just a few years ago oversight of a lot of businesses for FI which rested in the Central Bank moved to the Market Regulator. Down stream flow to the Dodd bill.
Instance 2, another proposed bill to curb Prop trading by FHCs, thank fully yet a bill and so far not feasible was last heard about this. This one again, wasn’t too welcomed by the Industry and was seen as a defensive move.

About the same time, our side of the globe, a lot of firms evaluate more active prop trading that has a financially lucrative taint and authorities don’t mind.

Moral of the story, the minds at opposite sides of the globe think opposite, owing to either fundamental differences in the kind of economies that the two of these are…. or is it basic difference in their standing on the growth/ development curve. It continues to be you go north I go south story.