regulation-reform

Banks need risk managers with a "show me the money" mindset Â-- that is, people who know how to use income statements and balance sheets to sniff out risky business activities.

A number of banks have cut ties with business lines that are seen as high-risk in an effort to dodge the threat of enforcement actions. The result is stunted job creation and innovation, not to mention customers who are denied much-needed services.

Quantitative easing hasn't led to severe price inflation as critics feared Â-- but the large quantity of Treasury debt might.

Republicans are unlikely to push the ball forward on reform of the federal housing agencies, but Congress has a number of other opportunities to make changes that will encourage mortgage lending.

Most investors don't see regulation in black-and-white terms. The rest of the financial industry should follow their lead.