22 September 2008
Regulating financial markets and institutions
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The United States government is planning a massive rescue plan for the country's financial institutions that could cost more than $(US)700 billion. The Democrats have given reluctant support to the scheme that would see the government buy back bad loans from banks that have been mixed up in the sub-prime mortgage crisis.
This is on top of the millions already paid out by the government to keep markets afloat in last week's meltdown and bail out some of the big investment and insurance corporations. But as well as a rescue package for the banks, do governments also have to look at tougher market regulations, in addition to the bans on short selling? And are some of the big players, like hedge funds, operating outside the regulatory net?
Guests
Ross Gittins
Economics writer, Sydney Morning Herald
Prasanna Gai
Professor of International Economics, Australian National University
Lindsay Tanner
Finance Minister
Further Information
Presenter
Paul Barclay
Story Researcher and Producer
Deb McCoy
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