Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law.

ISSUE: #04, August 2010

The Longbrake Letter
- Bill Longbrake
As the dog days of August drag on, hope for economic recovery is faltering as data reports disappoint. In this month's letter, Bill Longbrake provides updates on the U.S. federal budget deficit and European sovereign debt issues and explores the topic of deflation. While deflation is not likely, it could materialize if the economy re-enters recession and workers' salaries and wages are cut.

Living Wills May Kill You
- Bob Barnett
Too much attention by the government on shaping the organizations of systemic risk institutions to maximize the ease of winding up a systemic risk institution could hamper the ability of the institution to compete and contribute to the country's growth. In a world framed by the restrictions of the Dodd-Frank Act, overkill by the government is the greatest risk.

The Glass Half-Full
- Jim Sivon
It is possible that the Financial Stability Oversight Council and the Bureau of Consumer Financial Protection will have a positive impact on the regulation and reputation of the financial services industry.