John C. Coffee: “We must not let history repeat itself by creating more regulatory black holes and exposing investors to unacceptable…”

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.

The Volcker Rule was a reasonable way of doing that, by getting banks out of the business of proprietary trading.

Don't throw that last resort out. It saved us in 2008, and not that much has changed in the regulation of the money market funds.

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