Fred Sheehan has has written several guest articles in Marc Faber’s Gloom, Boom & Doom Report and contributes to Whiskey & Gunpowder and the Prudent Bear website. He is finishing a biography of Alan Greenspan, which the publishing industry has welcomed with complete apathy.
“US Treasury Secretary Hank Paulson has proposed the Federal Reserve be given broad powers to regulate the financial industry” says Fred Sheehan.
“He could not have nominated a more incompetent body. The Coast Guard would do a better job.”
“Financial upheaval owes homage to derivatives that shrouded the massive growth in debt and leverage.”
With the banking system going through a period of turmoil, the question of federal regulation will not be going away any time soon. Are market influences enough, or should the government be taking a closer look at how these banks do business.