Will the last US regulator stand up?

The lead US financial regulator's decision to abandon plans to reform money market funds speaks loudly of industry lobbying. If the SEC won't stop the next crisis, perhaps there's only one body who can.

FT.com

If anything is calculated to cause despair about the prospects of making the financial system safer, it is the failure of the Securities and Exchange Commission to tame the $2.6 trillion US money market fund industry. Mary Schapiro, the SEC chairman, has tried her best but she was stymied last week.

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