The fallout from the Bear Stearns meltdown and subsequent bailout has quickly spilled over into Washington, where lawmakers and US Treasury Secretary Henry Paulson are pushing forward with efforts to overhaul the US financial regulatory structure.
In a speech on March 26 to the US Chamber of Commerce, Paulson said his Treasury Department will release its “Blueprint for Regulatory Reform” for the financial markets soon – with some expecting that report as early as the start of April. That yearlong effort included commentary from participants across the securities and derivatives markets as well the controversial letter from Department of Justice, which...