In a new study, Competitive Enterprise Institute scholars size up the Treasury Department’s recent proposal to restructure the way financial institutions are regulated, finding that the plan has serious flaws and would effect a massive, and unnecessary, expansion of federal power.
The authors, CEI Senior Fellow Eli Lehrer and Center for Entrepreneurship Director John Berlau, evaluate the 220-page Treasury document Blueprint for a Modernized Financial Regulatory Structure on a point by point basis, praising its sensible elements and taking the planners to task for missteps in their policy brief “A Flawed Blueprint: A Free Market Analysis of the Treasury Department’s Financial Regulation Proposal.”
“In some cases the Blueprint does ask important questions about what government should do. In fields as diverse as insurance and mortgage lending, it asks fundamental questions and comes to sensible solutions,” write Lehrer and Berlau. “However, in far too many other places, it proposes creating new bureaucratic structures with new powers and new missions as if these will automatically result in a better financial system for the United States. They will not.”
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