The long-awaited Administration plan to reform financial regulation has arrived. The good news is that the specific proposals are virtually all sensible and constructive. The bad news is that there were some missed opportunities. On the whole, the good news significantly outweighs the bad -- we'll be better off if...

The financial "stress tests" on the big banks gave us good news: they "only" need $75 billion of new capital. That's a lot of money, but much less than many of us feared. However, it is important not to take excessive comfort from what is essentially a highly educated...

Washington and Wall Street are waiting with bated breath for the results of the financial "stress tests" that the regulators have been running on the 19 largest banking groups in the U.S. The public may feel hopeless about the bailout, but it is worth paying attention to what is announced...