There are ways to allow companies like GE to stay intact and have their finance arms regulated more closely, Frank said. The structure didn’t cause the financial crisis, and it shouldn’t be an obstacle to regulation, Frank said.
When President Barack Obama this week unveiled his proposal for the most sweeping overhaul of U.S. financial regulations since the 1930s, he proposed the central bank oversee not just banks but “other large firms that pose a risk to the entire economy in the event of failure.”
Deborah Monosson is no shrinking violet. As president of Boston Financial & Equity Corp., she’s accustomed to taking risks while doing business in equipment leasing and asset-based lending. And as chair of the Commercial Finance Association, she’s pushing the dramatic change she initiated last year as the 64-year-old international association’s first woman president.