Calls grow louder for international overview of U.S. markets

[EV_Ares]

Heather Timmons & Katrin Bennhold | New Delhi/Paris |

Politicians, regulators and financial specialists outside the United States are seeking a role in oversight of American markets, banks and rating agencies in the wake of recent problems related to subprime mortgages.

Their argument is simple: The United States is exporting financial products, but losses to investors in other countries suggest that American regulators are not properly monitoring the products or alerting investors to the risks.

"We need an international approach, and the United States needs to be part of it," said Peter Bofinger, a member of the German government's economics advisory board and a professor at the University of Würzburg.

While regulators in the United States have not been receptive to the idea in the past, analysts said that Europe and Asia have more leverage this time around. Washington might have to yield if it wants to succeed in imposing bilateral regulations on state-owned investment funds from emerging economies.

"America depends on the rest of the world to finance its debt," Bofinger said. "If our institutions stopped buying their financial products, it would hurt."

(Ian - he who has the gold makes the rules. That ain't the States anymore.)

(entire article @ link below)

http://www.iht.com/articles/2007/08/28/business/reg.php

[bryant69]

1. Oh, I think you'll find we are still pretty darn good at making the rules

I could be wrong, but my guess is that we will ignore this little suggestion.

Bryant
Check it out --> http://politicalcomment.blogspot.com

[EV_Ares]

2. U are correct, we will ignore the suggestion as we ignore most all

suggestions that come from elsewhere. The only way change will come in the US will be when it is forced in some manner.

[havocmom]

3. The rest of the world might wanna try a hand in regulating our military aggression too.

WE are the most dangerous rogue nation in the world right now