US Financial Regulation and the Level Playing Field (International Political Economy Series)

This book argues that will deregulation and globalization of financial markets mean for the future of US financial regulation? This book argues that the uniqueness of US regulation derives from its success in promoting four principles of competitive fairness that US players demand from financial markets. The peculiar notion of a "level playing field" provides a novel approach to understanding the evolution of US regulation, including recent reform, and to predicting attitudes toward questions of global financial market supervision. Cover......Page 1 Contents......Page 6 Preface......Page 8 List of Abbreviations......Page 11 Glossary of Key US Financial Statutes......Page 12 Introduction: Regulation and the Level Playing Field......Page 18 1 How to Think About Financial Regulation......Page 33 2 Is Regulation Beneficial?......Page 62 3 Deposit Insurance and the Politics of Regulatory Subsidy......Page 86 4 Results Matter......Page 108 5 Regulatory Conflict and Competitive Equality......Page 136 6 The Level Playing Field and Rules of Fair Play......Page 159 7 Failure on a Level Playing Field......Page 180 8 Let the Market Pick the Winners......Page 211 Notes and References......Page 231 Index......Page 251 Annotation This book argues that will deregulation and globalization of financial markets mean for the future of US financial regulation? This book argues that the uniqueness of US regulation derives from its success in promoting four principles of competitive fairness that US players demand from financial markets. The peculiar notion of a "level playing field" provides a novel approach to understanding the evolution of US regulation, including recent reform, and to predicting attitudes toward questions of global financial market supervision What will deregulation and globalization of financial markets mean for the future of US financial regulation? This book argues that the uniqueness of US regulation derives from its success in promoting four principles of competitive fairness that US players demand from financial markets. The peculiar US notion of a 'level playing field' provides a novel approach to understanding the evolution of US regulation, including recent reform, and to predicting US attitudes toward questions of global financial market supervision. To non-US observers of the US financial scene, Americans must seem to be preoccupied with regulation.