A NEW REGULATORY MAPA NEW REGULATORY MAPAfter weeks of fierce wrangling, and weeks of attendant leaks, the Obama Administration's 85-page proposal to redraw To redisplay an image on screen whether text or graphics. The concept is that the first time elements are displayed, they are "drawn," and if something is changed, they are "redrawn." Applications often have a Refresh command that redraws the screen. financial regulation contained few surprises when the President unveiled it on June 17. But it will affect nearly every party with an interest in the finance game. The main elements: a new consumer-protection agency to police credit cards and mortgages; tougher capital standards and a merger of two regulators for banks; a new role, with new powers, for the Federal Reserve in monitoring giant financial companies of all kinds; and of course, new rules to allow more supervision of derivatives, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , private-equity firms, and other largely unregulated Adj. 1. unregulated - not regulated; not subject to rule or discipline; "unregulated off-shore fishing" regulated - controlled or governed according to rule or principle or law; "well regulated industries"; "houses with regulated temperature" 2. corners of the market. Consumer advocates celebrated the proposals as rolling back years of deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and vowed a campaign to support or even strengthen them, organizing a new outfit they dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. Americans for Financial Reform. Industry groups put a good face on the mix, paying homage to the Administration's goals while promising stiff resistance to key provisions. Among the most bothersome for business: the stand-alone consumer agency and rules requiring firms to keep a stake in loans they package and resell; both are seen as threatening profits and innovation. See PAGE 023 "Financial Rules: What Obama Wants" 
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