How A Financial Products Agency Could Protect Investors And The Economy

04/01/2012 11:55 am ET
  • GRETCHEN MORGENSON The New York Times

The Food and Drug Administration vets new drugs before they reach the market. But imagine if there were a Wall Street version of the F.D.A. — an agency that examined new financial instruments and ensured that they were safe and benefited society, not just bankers.

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