COMMENTARY

Washington Times - No-thought regulation

By Richard W. Rahn

If you knew - "a few weeks ago, the federal government had to commit several hundred billion dollars for a guarantee of Citicorp's assets, though examiners from the Office of the Comptroller of the Currency (OCC) have been inside the bank full-time for years, supervising the operations of this giant institution, under the broad powers granted by the Federal Deposit Insurance Corporation Improvement Act of 1991 to bank supervisors" - what would you think about the effectiveness of U.S. bank regulation? Read full commentary.