I need a discussion response to the following peers post The financial regulatio

Question

I need a discussion response to the following peers post

The financial regulation is a form of regulation that is there to regulate all financial institutions on what they are allowed to do. It sets requirements, restrictions, and guideline that is there to maintain the integrity of the financial system. If you want to promote a free market, your Federal Reserve System must supervise the banking institution to make sure we don’t have another Enron again. When we have any compliance failure we have the breakdown in litigation, financial penalties, regulatory constraints and reputational damage that can affect your organization (5).

We use the Office of the Comptroller of the Currency (OCC) use the National Currency Act of 1863 to regulate currencies around the world, so a banker does not show favoritism as to when they want to change rate anytime (5). Madoff skims off people’s investment (2). Enron was cooking the book and shutting down powerplant causing a blackout and forcing power plants to pay them more money to turn the lights back on (3). WorldCom also cook the book, letting people think the company was making money (1). Libor fixed the rates by over or under-reporting the rates costing the US governmental entities billion (4). We must have financial regulation so that these big companies don’t take away the small working people’s lifesaving or kill them.

1.      WORLDCOM'S COLLAPSE: THE OVERVIEW By SIMON ROMERO and RIVA D. ATLAS JULY 22, 2002 http://www.nytimes.com/2002/07/22/us/worldcom-s-collapse-the-overview-worldcom-files-for-bankruptcy-largest-us-case.html

2.      5 Years Ago Bernie Madoff Was Sentenced to 150 Years In Prison – Here's How His Scheme Worked Stephanie Yang Jul. 1, 2014, 6:54 PM http://www.businessinsider.com/how-bernie-madoffs-ponzi-scheme-worked-2014-7

3.      Enron Chiefs Guilty of Fraud and Conspiracy By ALEXEI BARRIONUEVO MAY 25, 2006 http://www.nytimes.com/2006/05/25/business/25cnd-enron.html

4. Understanding the Libor Scandal by James McBride October 12, 2016 https://www.cfr.org/backgrounder/understanding-libor-scandal

5. Financial Regulations By Kimberly Amadeo February 07, 2017 https://www.thebalance.com/financial-regulations-3306234

Explanation / Answer

As per my understanding, the views expressed in the narration are the views of any person having rational thinking and concerns for the common person. No doubt at times the market mechanism including free market boost growth but it is hard earned truth that growth must be not restricted to few rather with passage of time must trickled down to the poorest person living on the street. Therefore, the financial resources must be controlled through proper legislations and their implementations while executing various policies.

As such there is no particular question to be answered. I have no doubts about the important roles to be played by the Financial Regulations and wants that these should be dynamic as per the changing environmental factors to meet the expectatations of all stakeholders, government, private, public, small, medium, large sectors.

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