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March 27, 2008

Chris Dodd: Investment Banking Regulations Needed

Senator Chris Dodd (D.-CT), Chairman of the Senate Banking Committee, gave comments yesterday in an NPR interview on the Fed, regulation of investment banking, etc. that are well worth listening to. Check them here.

The gist: Dodd thinks more regulation of investment banks is coming, in particular because of their recent back-up by the Fed. Talk about a Hobbsian choice: Accept a deal from the Fed and be regulated, or go bust, in part because of Fed policies. Okay, okay, it's not that stark, but you know what I mean.

More reactions here.

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