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Schapiro ultimately abandoned the attempt to regulate money funds after Luis Aguilar, an SEC commissioner who usually favors strong regulations, indicated he would not support the new rules.
The court's strong endorsement of Congress's authority to regulate money in politics should be seen as an invitation to further reform.
Mary Jo White, the S.E.C.'s new chairwoman, is taking a more incremental approach than her predecessor in trying to regulate money market funds.
If the S.E.C. does not want to regulate money market funds in the way the the council suggests, it need not do so.
Practical programs are most effective where international organizations and bilateral donors support local stakeholders – including in efforts to reform electoral laws, strengthen women's representation, foster independent journalism, regulate money in politics, and improve voter registration.
Britain, and other donors, should empower Somali businessmen with lines of credit and an improved system to regulate money transfers; Somalia needs a chamber of commerce before it needs a cabinet.
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He also threw his weight behind efforts to regulate money-market funds – efforts that have been stymied at the Securities and Exchange Commission but which Treasury Secretary Timothy Geithner has recently backed.
As the book details, the whole business of providing, receiving and regulating money involves one state entity or another.
PAGE A28 WEIGHING IN WITH ADS AND WALLETS Section 527 spending, the lightly regulated money that swamped the presidential election in 2004, has fallen so far this year.
The S.E.C., which had nominally regulated money market funds, was entirely circumvented, and the Gold Reserve Act had never been used to bail out a domestic financial intermediary before.
Just about all of the institutions in Somalia collapsed under the weight of 20 years of anarchy, including the banking sector, giving rise to a lightly regulated money transfer business.
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