The financial sector is coming out against proposed new regulatory efforts.
Thursday, January 28, 2010
The financial sector is coming out against proposed new regulatory efforts.
- By John March
The banking industry is warning that efforts by the White House to impose a series of new regulations could backfire by undermining the economy at a time when it is still particularly vulnerable.
A report in London’s Evening Standard newspaper notes that many in the finance industry see proposals by President Barack Obama and British Prime Minister Gordon Brown as unnecessary and potentially burdensome to the industry.
One executive was quoted as saying that if the proposed rules, which in the UK include a tax on all financial market transactions, turn out not to work, the results could fall somewhere between stifled growth and “another crisis.”
Overall, such criticism is reflective of the general uncertainty and unease that surrounds the economic recovery, which in the U.S. has so far been a slow and jobless one. There is also concern that a double dip recession could become apparent in the coming months, largely due to factors like the unemployment situation.
With these things in mind, investors can consider talking to gold and silver dealers about the full range of options that may be open to them.
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[…] Gold coin investments remain an attractive option because of ongoing unease among many about the direction of the economy and how strong any pending recovery will actually be. […]