On global regulation, America is usually seen as the foot-dragger. Tim Geithner, the treasury secretary, sought to dispel this impression on March 14th, telling his Group of 20 counterparts he wanted "a much stronger form of oversight and clear rules of the game".rnCredit this change of heart to the bruising experiences of the last year. On March 17th he reminded Congress of the need for an expanded resolution authority so that regulators could take over any systemical-ly important financial institution, pay off its creditors and sell its assets, even if it were not technically a bank as was the case with Bear Stearns, Lehman Brothers and American International Group.
展开▼
