Obama's New Plans for the U.S. Financal System

This afternoon President Obama and Treasury Secretary Tim Geithner have laid out their comprehensive regulatory reform plan for the U.S. financial system.



The President's plan will:

• Require that all financial firms that pose a significant risk to the financial system at large are subjected to strong consolidated supervision and regulation
  
• Increase market discipline and transparency to make our markets strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions
  
• Rebuild trust in our markets by creating the Consumer Financial Protection Agency to focus exclusively on protecting consumers in credit, savings, and payment markets.
  
• Provide the government with the tools needed to manage financial crises so it is not forced to choose between bailouts and financial collapse
  
• Raise international regulatory standards and improve international coordination

A White Paper On Financial Regulatory Reform Can Be Found Here