Geithner: Markets Are Too Important to Be Governed by Markets « The Washington Independent
Jul 31, 2020168.8K Shares5.2M Views
Here’s the money quote from Treasury Secretary Tim Geithner, interviewed Mondayby CNN about the role of government in regulating Wall Street:
“„The financial markets are too important to the economy to be left to the markets alone. You need a strong framework of regulations, a much stronger framework than we had.
In Congress, Sen. Chris Dodd (D-Conn.), chairman of the Senate Banking Committee, and Rep. Barney Frank (D-Mass.), who heads the House Financial Services panel, are pushing for sweeping reforms of the finance industry this year, including the creation of a new agencydesigned to protect consumers from some of the more dubious practices of the banks.
With Congress already facing hugely contentious health reform and climate change bills this fall, however, the Democrats might not want to hold their breath for action this year.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
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