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US financial recovery: Political regulations or a plan for the future?

Chambers, Clare

Authors



Abstract

Although many commentators are examining and expounding the economic crisis, as it affects the United Kingdom, it is important to note that the economic crisis is global. The economic crisis in its commencement emanated a ripple effect of pervasive economic crisis, which spread across the globe. If the economic crisis was a global phenomenon, then maybe financial recovery can be global as well. Overall, the article is commenting on the fact that, although we, in the United Kingdom may be concerned directly with the UK financial recovery, it is important to maintain consciousness on the United States because, after all, crisis is not isolated to one country. This is because the financial system sees no boundaries and recovery and crisis has shown us this quite profoundly. This article examines the new Financial Recovery Reform Paper. This article is divided into three parts. First, the article examines briefly the economic crisis in the United States, thus setting the scene for the Financial Recovery White Paper. The second part examines the White Paper in detail and expounds the aims and objectives. Finally, the article explores the outcome of the US financial system and, although only hypothesising at the future, the article concludes that, similar to the United Kingdom, the United States will return to a more simplified and more regulated financial market. Ensuring that less risk is taken and more compliance is followed this article can be contrasted with the White Paper proffered by the Labour Government in the United Kingdom, although it is outside the remit of this article to discuss the White Paper. © 2010 Macmillan Publishers Ltd.

Citation

Chambers, C. (2010). US financial recovery: Political regulations or a plan for the future?. Journal of Banking Regulation, 11(3), 240-255. https://doi.org/10.1057/jbr.2010.12

Journal Article Type Article
Publication Date Jun 1, 2010
Deposit Date Jul 8, 2013
Journal Journal of Banking Regulation
Print ISSN 1745-6452
Electronic ISSN 1750-2071
Publisher Palgrave Macmillan (part of Springer Nature)
Peer Reviewed Peer Reviewed
Volume 11
Issue 3
Pages 240-255
DOI https://doi.org/10.1057/jbr.2010.12
Keywords US banking reforms, political change, credit crisis
Public URL https://uwe-repository.worktribe.com/output/978409
Publisher URL http://dx.doi.org/10.1057/jbr.2010.12
Additional Information Additional Information : This is a post-peer-review, pre-copyedit version of an article published in the Journal of Banking Regultion. The definitive publisher-authenticated version Chambers, Clare. L (2010) US financial recovery: Political regulations or a plan for the future. Journal of Banking Regulation, 11. pp. 240-255. ISSN 1745-6452 is available online at: http://www.palgrave-journals.com/jbr/journal/v11/n3/abs/jbr201012a.html