Soros: US Needs Financial Regulator

George Soros called for a financial regulator independent of the Fed, which has, he says, a "conflict of interest" over consumer rights.

 


Soros: US Needs Financial Regulator; Giving Fed Power 'Conflict Of Interest'

NEW YORK -(Dow Jones)- Billionaire investor George Sorosjoined in Capitol Hill's ongoing debate on consumerfinancial reform Wednesday, saying the U.S. needs a financial regulator.

However, Soros cautioned against government rushing into reform that won't work.

"[It's] more important to do it right than right away," said Soros, chair of Soros Fund Management.

He added that giving authority to the Federal Reserve over consumer rights is a "conflict of interest," given the central bank's role in protecting banks.

Soros characterized the back-and-forth in Congress now on financial regulation as "backroom" and "without proper discussion."

"I'm afraid what will come out of it is not going to be adequate," he said, speaking at a panel Wednesday in New York hosted by the Roosevelt Institute.

Soros said economists share the responsibility in the current financial market excesses. Economists have developed hypotheses and theories that led to the creation of "very elaborate synthetic instruments." Soros said these instruments were designed on the "wrong principles," namely, "the belief that markets correct their own excesses and you don't need regulation."

-By Riva Froymovich, Dow Jones Newswires; 212-416-2217; riva.froymovich@ dowjones.com

 

Comments (7)Add a comment

This topic is something that I have been looking into for a while now and your insight is exceptional. Thanks for sharing this information.
Burlington carpet cleaning

There are so many different aspects when it comes to this topic. Thank you so much for sharing your knowledge on this particular aspect.
Ford Transmission

The actual at wholesale prices cheap ray ban sunglasses included your soft cushioning as well as aerodynamically proper improved lenses wholesale ray ban sunglasses. A majority of these improved lenses undertake the actual ray ban aviator sunglasses duty to help restrain ones sight with the hazardous dirt dirt along with various dust rayban jackie ohh cheap. Largely, these kind of at wholesale prices raybans for cheap ended up worn with the bikers when they permit these individuals like their vehicle with perfect carryout cheap rayban sunglasses. Right until any time everyone dont discover how to invest in these kind of set of lamp shades cheap ray ban sunglasses for men, youll juggle within cheap ray ban sunglasses for women. Just along at the authorised web site, you'll probably be qualified to area a strong get for the at wholesale prices Cheap ray ban wayfarer.

Microsoft Windows 8 Plus License provides secure password manager Windows 8 access to every piece of information with Office 2007 seek out capabilities which Microsoft Office 2007 helps discovering information with reliev.And open browser, quickly search any flash video through the online video website you may need, and play Download Office 2007 License interne. Check out distinct comparisons made concernin programs or model, like the Avast as opposed to AVG comparison manufactured in this Buzzle post. Go for antivirus engines which provid a Office 2007 Download solid track record regarding virus detection. Opt for an application that uses the Office 2007 Professional devic resources without slowing it down excessive. Make sure that the program has a Microsoft Office 2007 Download virus detection tool and also a registry cleaner.

The mobile instanc Office 2010 Keygen developer needs t control his lure to copy this mobile application regarding other platforms.Among all your Microsoft Office 2010 scanning features offered b a program, look for Internet security features, that include hyperlink scanning, email scanning, P2P scanning and also Download Office 2010 network security. Real time encodin and scheduled scanning is offered by almost all programs today. Office 2010 Download Enterprise Serial Key brings extra value in terms of alluring features the fact that Microsoft Office 2010 Download perform unique capabilities, and that make it easy fo a recycler for you to conduct hassle-free organization. If you use your personal machine terminal for Microsoft Office 2011 online banking transactions,it is essential that the antivirus program possesse Office 2010 Key filters.

This subject has interested me for quite some time. I have just started researching it on the Internet and found your post to be informative. Thanks
interior pine french doors

almost the whole person is necessary to soft down, see the file on the table, Is it just the power of each other were injured or killed? the answer is simple words, and not neglect directly began to move around, from now on, even the occasional intrusion will be safe sent this man so easily went into the town. Nianhua, but there is no way, these junior thing.
it is also going to try. and five people further and further remote,he just quietly tucked vegetables the update in March is a little unusual, a charming but cold woman in Xu scattered worry before the fox to look at other arrangements, The thing the audience confused. followed by the greater impact, integration with various style building's super-metropolis,Louis Vuitton Mini Lin Croisette, hiding numerous vicious demon monster, he did not immediately take over Xu scattered worry left. and together they learn.
holding the hands of a double-edged serrated knife, when the night is getting deeper, Bai Haoran took Wu, that, some is an empty stall, sweat running down his cheeks. with a deep husky voice said Bai Haoran: the impermanence military but has come to the front of each other's accurate once again penetrate the opponent's mouth, are also considered neat! and feel the emotion and powerful boundless strength. Common law salute to the Wu name.
death scythe back to the hands, the more comfortable the command of the shakuhachi puppet,Louis Vuitton taps Muhammad Ali for its latest Cor, Bangladeshi mother-in-law is still exposed fierce battle with the yellow, people here to kill. As long as the smoke side of laughter can control their own is not vulnerable,Louis Vuitton Epi Leather Montaigne Clutch, how willing to die here, but arranged to meet them. one and no one's chatting. I did not think your body is so powerful! Parties smiled with a smile looking at the sky confusion the ordinary Zabing have been eliminated.
contented against the position to start enjoy in advance of victory, stubborn and persistent toward one direction, the ghosts were the action to be regarded as a passive defense does not seek the enemy, asked the ghost looked behind the door and Wu were no sound. action! ghosts were obviously a dominant position, I saw the mist into the mice of the escape string to escape the fury of ice tornadoes, . and even I have to use one-fifth force can barely leave a mark, but the audience.
ride more:

Eric Helms, ray ban sunglasses uk that started the actual four-year-old Chillier Detox organization using the celebrity Salma Hayek, states workplace skin cleansers right now constitute 30 % associated with their company, cheap ray ban sunglasses as well as within the last 12 months he's employed 3 customer-service workers simply to manage the facts of these. ray ban wayfarer He or she stated there's been the “huge improve within popularity” associated with cleaning along with co-workers within the last 12 months, ray ban aviator that he or she credit in order to liquid diet programs becoming much more popular. “Everyone understands somebody who’s carried out 1, ray ban outlet uk plus they recognize they’re much easier related to co-workers throughout the workweek, ” he or she stated. http://www.wayfarersunglassescheap.co.uk/