Arizona Real Estate Notebook

From the New York Times;

While both banks and nonbanks practice proprietary trading, only banks have a safety net in the United States. Both, however, would be subject to a resolution authority, an institution that would unwind them in case of collapse, if that idea is enacted as law.

“Nonbanks by and large are not regulated as tightly as banks,” Mr. Volcker said. But “if they got into trouble, the theory is that they will not be rescued, but they will have an orderly demise.”

Just make this guy the Treasury Secretary.