Academic

After the bailout, and the indictments, the heads of government, both locally and globally, will meet to reform the system.  Our guest Larry Cunningham has authored a white paper for the Council of Instititional Investors (the hedge funds, pension funds, unions, and so on that comprise a great deal of the buy-side equity in the markets) urging caution of a whole-hearted embrace of the so-called Paulson Blueprint for regulatory reform that would essentially eliminate the CFTC, radically change the SEC, and concentrate much of the rest of financial supervision in the Treasury Department.

Reform is coming, and Larry's paper could not be a better timed, and more needed, perspective.  I've read the paper, and one of the things I liked best was that it picks a way forward for the SEC - crucial for an agency that hasn't exactly found its way during the current unpleasantness.