Insight: U.S. early warning system for financial crises gets low marks

Through Sarah N. Lynch and Emily Stephenson WASHINGTON (Reuters) – In June 2009, a small staff of academics despatched an envoy to a Washington, D.C., suppose tank to pitch their vision for a research workplace to lend a hand the nation avoid the next financial trouble. The theory used to be to create a premiere U.S. information powerhouse that might be a National Climate Provider for financial storms, with up-to-the-minute data on transactions and the analytical juice to look ahead to where systemic dangers were quietly growing. The Office of Monetary Analysis used to be created within the Treasury Department, a part of sweeping reforms according to the worst financial hindrance in many years. The place of work should compete for high minds on a decrease pay scale than every other agencies.