John C. Coffee: “I want to commend Congressman Himes for having supervised the drafting of a careful, balanced, and sophisticated bill.”

There is no efficiency in selective disclosure. This is an issue of fairness.

Third, we should review regulatory policies and accounting rules to ensure that they do not induce excessive procyclicality.

I think one is enormously important: systemic risk. All of the future of our economy depends upon being able to solve in a credible fashion the problems of major bank failure.

We believe that leapfrogging rulemakings whose deadlines are months away ahead of rulemakings whose deadlines are months passed... violates both the spirit and the letter of the law.