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Congress should expand regulatory structure
"In the cauldron of these events, the actions that the Federal Reserve took - in particular, extending access to the discount window not only to Bear Stearns, but also to the major investment banks - were addressed to preventing future occurrences of the run-on-the-bank phenomenon that Bear endured."
"It remains, however, for regulators and Congress to consider what other steps, if any, are necessary to harmonize this significant new safeguard with other aspects of the existing legislative scheme, and the regulatory structure that resulted from the enactment of the Gramm-Leach-Bliley Act."
NEXT: Financial stability needed in a 'critical time'
Last updated April 03 2008: 2:29 PM ET
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