What regulating the financial industry should and should not do in the US.  J Christopher GIancarlo, Commissioner of the Commodities Futures Trading Commission laid out six principles before the US Chamber of Commerce.  His full spech:  CFTC Commissioner Giancarlo’s Speech

Six Principles for Financial Market Regulation

Regulation must:

1. Not Restrain the U.S. Economy;

2. Not Threaten American Jobs;

3. Be Impartial and Balanced;

4. Be Competent;

5. Be Accountable; and

6. Not Create the Next Crisis

The question W-T-W Women and Finance keeps asking is how we divide the services of financial institutions.  Banks perhaps should be segregated out and function as despositories of other people’s money which is then invested in the community to yeild a reasonable profit (i.e., no one expects JP Morgan Chase’s 24%).  Institutions like Chase should not be called a bank.  They are investment institutions for high rolllers.  Their deposits are not insured.  Only ‘banks’ deposits will be insured.

Looking at banking and finance at the most fundamental level is critical for the development of regulations.  Perhaps the cowboys of finance should simply be allowed to invest as they wish as long as people who give them money realize the risk.