Pictures

U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012. REUTERS/Shamil Zhumatov (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012. REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

Fleet Week

The U.S. Navy takes Manhattan for a week.  Slideshow 

Photo

The SpaceX mission

A privately owned unmanned rocket blasts off on a mission to be the first commercial flight to the International Space Station.  Slideshow 

Banks shouldn't choose regulator: Summers

Related Topics

ST. LOUIS | Mon Oct 12, 2009 2:39pm EDT

ST. LOUIS (Reuters) - Financial firms should not be able to choose their own regulator, White House economic adviser Lawrence Summers said on Monday.

He said the practice of "charter flipping," in order to report to a particular regulator, encouraged lax standards and higher capital and leverage rules were needed to make the financial system more resilient in times of crisis.

"We haven't seen the last bubble," Summers said in response to a question at an economics conference here.

(Reporting by Emily Kaiser)
Politics
Economy
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.