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Financial Regulatory Policy
Hudson Institute Presidential Transition Papers
January 8, 2009
by Irwin Stelzer
Download PDF (130.1 KB)
New regulations to correct the excesses that led to our
current financial crisis must rely on getting the incentives
right, rather than armies of regulators to enforce "good"
behavior. Lenders must retain some of the risk associated
with their lending, regulations to control excessive leverage
and off-balance sheet lending must be put in place to
make markets work better, executive compensation must
be related to performance, all without scuttling the Ameri
can dream of home ownership.
Irwin Stelzer is a Senior Fellow and Director of Economic Policy Studies for the Hudson Institute. He is also the U.S. economist and political columnist for The Sunday Times (London) and The Courier Mail (Australia), a columnist for The New York Post, and an honorary fellow of the Centre for Socio-Legal Studies for Wolfson College at Oxford University. He is the founder and former president of National Economic Research Associates and a consultant to several U.S. and United Kingdom industries on a variety of commercial and policy issues. He has a doctorate in economics from Cornell University and has taught at institutions such as Cornell, the University of Connecticut, New York University, and Nuffield College, Oxford.
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