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Is the US regulatory system working?

As serious allegations regarding the personal life and business life of Sir Allen Stanford continue to emerge in relation to an ongoing investigation into his business activities, there are serious concerns that the US regulatory system is not working. Amid highly damaging, and unconfirmed, reports that allege Sir Allen Stanford was in some way assisting the US authorities in return for preferential treatment, there is a feeling that a serious overhaul of the regulatory system is required.

As the US regulatory system comes under yet more pressure, there is no doubt that the worldwide system and national systems in many different countries need to be upgraded. A general lack of communication between regulators around the world is seen by many as a potential reason for the significant collapse in the worldwide economy after the credit crunch began in the US. However, while the US is widely regarded as one of the most influential financial markets in the world it seems very harsh to blame the US authorities alone for the demise of the worldwide economy.

The damaging suggestions rising from the Sir Allen Stanford investigation may have far-reaching implications and could prompt a serious revamp of the worldwide regulatory system.

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