John C. Coffee: “I think one is enormously important: systemic risk. All of the future of our economy depends upon being able to solve in…”

Second, we must strengthen what I will call the financial infrastructure--the systems, rules, and conventions that govern trading, payment, clearing, and settlement in financial markets--to ensure that it will perform well under stress.

I think it is judicial legislation. It is not usually what the Court does.

I want to commend Congressman Himes for having supervised the drafting of a careful, balanced, and sophisticated bill.

First, we must address the problem of financial institutions that are deemed too big--or perhaps too interconnected--to fail.