Henry Paulson, the US Treasury Secretary, will create huge business opportunity for consulting firms with his proposed regulation. It's the broadest reform of oversight in the financial markets since the aftermath of the Great Depression.
Businesses are amenable to the same as it will streamline the regulation to avoid such fiascos such as Bear Sterns. It will result in reduced profits but will reduce risk of persecution later.
This regulation translates into a huge opportunity for the consulting firms because both the Fed as well as the commercial sector will have a run for becoming ready for the new era! Consulting firms will flash their accelerators to get the business. As time will be of importance, the billing rates will be at a premium.
4 comments:
its too early to comment i believe.. paulson's proposals are likely to face strong criticisms and opposition from the state governments and smaller financial firms (which claim that the changes proposed work only in favor of the big names). how much of the recommendations would be actually implemented is of concern here.
earlier commentators may either be pure speculators or folks with an insight in the matter.
I agree that there will be criticisms for a few proposals from certain segments as noone likes change.
However, fundamentally, the change ought to happen. MBA came out with a positive response to this within 5 mins after the announcement on 3/31.
With all the insights that I possess, I have reasons to believe that these proposals, if not in entirety, will be implemented. If not in the election year, then later....however, some of those are inevitable.
Diamond Consultants agree with what I said in this post. It is evident in their URL at: http://www.diamondconsultants.com/publicsite/company/press/?release=pressreleases445.asp
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