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: #32, December 2012

The Longbrake Letter
- Bill Longbrake
In this month's letter, Bill Longbrake takes a look at the outlook for 2013
for the U.S., Europe and China. While Congress and President Obama wrestle
over how to resolve fiscal cliff issues, neither is paying any attention to
the real and serious long-run issue, which is not the deficit but the
deterioration in the structural potential rate of GDP growth. The evidence
is clear on many fronts. America's infrastructure is aging and reinvestment
is inadequate. Government investment in research and education has fallen
below historical levels. Until serious attention focuses on this problem and
opportunity, prospects for improvement in Americans' standard of living are

The End of the World
- Bob Barnett
As this year ends, there are potentially industry-changing regulations and practices on the horizon. Some say they will eliminate the way the business has been done.

Changes in Mortgage Regulation in 2013
- Katie Wechsler
In 2011 and 2012 the Federal banking agencies proposed several regulations to the mortgage industry, none of which have been finalized, but which affect every aspect of the business. This article reviews the proposed changes to mortgage regulation and the timing of the final rules.