tag:blogger.com,1999:blog-8040007778377298809.post5489606389142518894..comments2010-02-04T13:25:52.529-05:00Rick Bookstaberhttp://www.blogger.com/profile/01753622527319607465noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8040007778377298809.post-3877793482594874282010-02-04T13:25:52.529-05:002010-02-04T13:25:52.529-05:00Hi Rick,<br /><br />I guess you’re a supporter of the Volcker plan and beyond (Volcker + plan?).<br /><br />But may I ask what about the non-bank financial firms that are big enough to be considered systemic? If you break the big banks, won’t traders just move around to the non-regulated entities? And if we regulate those too, won’t they go overseas to less regulated jurisdictions?<br /><br />Point being:<br />- It has to be controlled system-wide, not just regulated firms; regulation implemented through substance over form paradigm.<br />- it has to be coordinated and implemented globally and monitored for compliance (IMF? Financial Stability Board?). too bad there’s not enough political will around the world to enforce this.<br /><br />How are things at the SEC?<br /><br />All the best,<br />-EranEran Meisharnoreply@blogger.com