Finally, we should consider whether the creation of an authority specifically charged with monitoring and addressing systemic risks would help protect the system from financial crises like the one we are currently experiencing.
Suggesting the establishment of an authority to monitor systemic financial risks.
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More from John C. Coffee
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.
There is no efficiency in selective disclosure. This is an issue of fairness.
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.
First, we must address the problem of financial institutions that are deemed too big--or perhaps too interconnected--to fail.
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