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Subprime Woes Spur Call For Regulatory Reform

Calls for a major revamping of the U.S. financial services regulatory system reverberated here last week in the wake of the meltdown of Bear Stearns, and it was made clear greater federal involvement

By Arthur D. Postal | Updated on March 30, 2008

Calls for a major revamping of the U.S. financial services regulatory system reverberated here last week in the wake of the meltdown of Bear Stearns, and it was made clear greater federal involvement in insurance oversight might be part of the mix.

In comments at the annual Capital Markets Summit sponsored by the U.S. Chamber of Commerce, Treasury Secretary Henry Paulson Jr. said the Bush administration’s “blueprint” for modernizing financial services regulation will address “the important role that insurance can play in today’s interconnected financial markets.”

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