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Credit crisis poses moving target for regulators

www.guardian.co.uk

Regulate in haste, repent at leisure. That might be the motto of European policymakers as they ponder what changes may be needed to Europe's financial supervision rules and structures to respond to the global credit crisis. There is a widespread sense that regulation failed and "something must be done" to prevent a repetition of the turmoil that has shaken financial markets since last August when the meltdown of the U.S. subprime mortgage market spread worldwide. Beyond that, politicians and regulators in Brussels and the major European economies are finding it hard to agree on the culprits, the cause, the scale of the damage or any remedy.

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