Fed Reserve: new standards 'significant step forward'

As a result of the current economic crisis, the United States government has begun to take strict action in the making of their policies. For example, the U.S. banking regulators have raised the bank capital standards. In July Congress passed a sweeping financial overhaul legislation. In conclusion, the government is a taking a top-down approach because they are modifying an already existing policy to make it more strict. The "policy contains clearly defined policy tools for the accomplishment of the goals" to end the econmic crisis. (Birkland) The U.S. bank regulators have said that rules must be implemented in an orderly way so other countries do not get away with performing less strict rules. Implementaion is the core tool for this process to follow through successfully.
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