Obama's plan unclear for companies and private funds

Author: | Published: 1 Jul 2009

The capital requirement details US President Barack Obama proposed yesterday are too vague with which companies they include.

In his Financial Regulatory Reform plan, Obama suggested a working group made of federal financial regulatory agencies reassess regulatory capital requirements in six areas. But the language of the plan is inconsistent in two places.

“I don’t know how it applies to institutions with a systemic effect,” one former General Counsel at the Federal Deposit Insurance Corporation...