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: #38, June 2013

The Longbrake Letter
- Bill Longbrake
In this month's letter, Bill Longbrake discusses whether the U.S. and other global economies will continue their slow recovery from the depths of the Great Recession or whether aggressive monetary policies are setting in motion the buildup in imbalances that could eventually lead to a deflationary bust. He also evaluates whether current stock market valuations are too high or too low.

The Coming Clash Between Financial Technology and Financial Regulators
- Jim Sivon & Aaron Klein
In this article, Jim Sivon and special guest author Aaron Klein highlight the potential for conflicts between financial innovators and financial regulators.

National Institute of Finance
-Bob Barnett
Creation of a National Institute of Finance modeled after NIH would lead to more meaningful collaboration on basic financial services research. Serious congressional consideration should be given to modifying the charter of the Office of Financial Research to create such an institute.

Proposed New Federal Agency to Regulate and Backstop Mortgage-Backed Securities
-Ray Natter
This article summarizes a draft legislative proposal, likely to be introduced soon, which would establish a new federal agency to insure and regulate mortgage-backed securities. The proposal would require the private sector to assume a first loss position before the federal insurance will be applicable. Fannie Mae and Freddie Mac would be liquidated, and a number of private entities would take over the functions of these two GSEs.

     
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