Press Coverage

David Blain in InvestmentNews: New Regulations

October 26, 2008:  In an interview with Sara Hansard of InvestmentNews, David Blain voices his skepticism about the effectiveness of a so-called über-regulator for all segments of the financial services industry. During recent Congressional testimony in Washington, the leaders of the trade groups representing these segments asked for such oversight as a way of preventing another financial disaster like the one experienced by the mortgage industry.

“I don’t know that that is going to do a whole lot other than increase the regulatory burden,” said Mr. Blain. “Every time they twitch their finger up there in Congress, it’s very difficult for smaller firms to keep up with all the new regulations.” If such a regulatory environment does become a reality, Blain says that, “The same thing that applies to Merrill Lynch applies to the smaller firms.”