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Summers urges business to back financial reform

06:03, 1969-Dec-31 .. 0 comments .. Link

Summers urges business to back financial reform Summers urges business to back financial reform Summers, director of the White House National Economic Council, #xreiterated President Barack Obama's call for stronger financial regulation, including giving regulators the power to properly address the failures of large institutions and protect their customers.

He asked leaders of business and public policy at the Citizens Budget Commission's fundraiser in New York to accept the role of government in preparing for and responding to crisis. Business should support, christmas giftsrather than thwart the government in its efforts, he said.

"A strong government (that) responds to market failures, provides social protection regulates potential abuses and supports economic conditions is undeniably in the long-run interest of business," he said.

While Summers said he understood business antipathy,中小企业国际市场开拓资金, #x"history teaches us that active government is a necessary force," christmas giftshe added.

His pleas came as negotiations over financial reform dragged on in Washington, with strong disagreements on creation of a new government watchdog for financial consumers. Senate Banking Committee Christopher Dodd has been trying to bridge a gap with Republicans, who oppose an independent consumer protection agency, and discussed with Republican Senator Bob Corker the possibility of making the agency a division of the Federal Reserve.

Dodd has been expected to unveil revised financial reform legislation this week, with a possible vote by the banking panel in mid-March and Senate floor action in April or May.

To make his point, Summers suggested that few, if any, major financial institutions would have survived without the emergency liquidity offered by the government. christmas giftsIt was just 18 months ago that leading companies were reduced to borrowing money overnight because they were unable to borrow for a week, he said. 相关的主题文章：