Reforming Financial Regulation: A Memo to President-elect Obama


Publication Date: January 2009

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): David C. John; David M. Mason

Research Area: Banking and finance; Economics

Keywords: Economic policy; Presidential transition; Financial regulation

Type: Brief

Coverage: United States

Abstract:

The new financial regulatory system must have clear lines of responsibility and allow the industry to continue to innovate. It must be flexible enough to adapt to new realities in the global marketplace quickly while still ensuring that our national interests are protected. The financial services industry has played an essential role in creating prosperity. An appropriate regulatory system will allow it to continue to play that role in the future.