Dante311

Geithner Regulates: After the Carrot, A Stick for Banks

I think that a broader coverage of the financial institutions whether it be banks, hedge funds, or private equity firms is a necessary step as those who wished to avoid regulation simply side stepped it by change the legal identity. I don't see why you would avoid monitoring unless you were concerned about the safety of the risks you were taking.

I also agree that fostering a environment of long-term planning in corporations and government is the right mentality to have and that those who provide for the long-term growth of the their company should be rewarded instead of those who only try to insure short term profits at the expense of future ones.

I do worry though about the costs of overseeing the entire finance industry and if it will be able to be achieved. Pay is much higher at private institutions and the ability to hire the best will stack the odds in favor of private firms. Those who know what's going on best may be more interested in staying in the private sector.