On March 26, 2009, Treasury Secretary Timothy Geithner outlined the administration’s plan to regulate the financial system during a hearing before the House Financial Services Committee. The proposals included the creation of a systemic regulator that would have the authority to designate “significantly important” financial institutions that may pose serious risks to the stability of the financial system. What does it mean for an institution to be so designated? Can a systemic regulator provide the needed oversight of financial institutions? Does the federal government have sufficient existing authority to deal with systemic risk and should it have the authority to resolve financial institutions outside of existing bankruptcy law? Our speakers address these and other questions.
- Hon. Peter J. Wallison, American Enterprise Institute
- Hon. Wayne A. Abernathy, American Bankers Association
- Moderator: Mr. John L. Douglas, Davis Polk & Wardwell LLP