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New Directions in Financial Services Regulation$
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Roger B. Porter, Robert R. Glauber, and Thomas J. Healey

Print publication date: 2011

Print ISBN-13: 9780262015615

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015615.001.0001

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Summary of Discussion

Summary of Discussion

(p.125) Summary of Discussion
New Directions in Financial Services Regulation

Roger B. Porter

Robert R. Glauber

Thomas J. Healey

The MIT Press

This chapter compiles and consolidates the discussion on how best to modify the regulation of finance in the United States. It takes the insights and views propagated by previous chapters and comments. Debates over whether government intervention should expand or decrease are addressed. Also suggested is the systematic breaking up of important institutions that will help decentralize and breakdown the too large and complex firms, thereby creating a more manageable and regulatory financial system. Leading up towards a resolution, Nason and Poole observe a phenomenon in the system that illustrates why discretion must be revoked from regulators. Regulators should have limited discretion, and the must be, in place, statutory requirements. The rule, therefore, should be in the statute to limit regulators’ discretion.

Keywords:   regulation of finance, statutory requirements, regulators’ discretion, limited discretion

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