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Ellen Seidman, a financial services policy director for New America Foundation's Asset Building Program, outlined a set of guidelines for lawmakers to take into consideration for improving the financial services regulatory regime. Policy changes should incorporate consistent regulation based on activity rather than entity, effective enforcement, transparency, as well as capital adequacy standards, Seidman said. LINK (subscription required)

A leading budget expert today said both presidential candidates have proposed legitimate stimulus packages to help the ailing economy, but suggested those proposals would likely have to be revised as economic conditions worsen.

"Their plans will have to be scrapped and rethought after the election," said Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget.

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The next president and the 111th Congress may have to cut back ambitious plans next year for new government programs and instead spend much of their energy on improving the economy, bipartisan experts suggested.

Think Tanks Offer Latest Social Security 'Reform' Plan (CongressNow, subscription only)