Capital Markets Reform: It's What You Do, Not Who Does It
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Tomorrow the Obama administration will release their plan for reforming the regulation and supervision of U.S. capital markets. We already have a pretty good sense of what will be in there, from ongoing news stories and from the op-ed in the Washington Post earlier this week by Secretary Geithner and Larry Summers.
The U.S. Chamber, through its Center for Capital Markets Competitiveness (CCMC), has been advocating for years for the modernization of capital markets regulations. So today David Hirschmann, president and CEO of the CCMC, held a call with reporters to discuss the Chamber's thoughts and the criteria by which we'll review any proposal. We've pulled together a short video of some the highlights, including thoughts on a systemic risk regulator, a new regulator for consumer protection, and the bottom line.