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Financial regulatory reform passed

Dick Taffe — Thu, 15 Jul 2010 21:01:28 +0000

With the Senate finally passing the complex financial regulatory reform law and sending it to President Obama for his signature, the work now turns to the hundreds of regulations and dozens of studies which must be completed to implement the most sweeping financial reform since the Great Depression. But while regulators work on all of that, says Political science Professor Graham Wilson, others will be watching how it all plays out politically for Obama and his embattled Democrats.

“Combined with health care and the stimulus, this gives Obama a notable legislative record. But unless he and the Democrats can do a better job of explaining to the American people what their plan is for economic recovery, this record won’t be noticed outside the Beltway.”

Contact Graham Wilson, 617-353-2540, gkwilson@bu.edu

Geithner urges global financial reform

Dick Taffe — Thu, 27 May 2010 16:59:56 +0000

Treasury Secretary Timothy Geithner is visiting with his European counterparts to say that the U.S. and Europe broadly agree on the need to reform the financial system but that global cooperation is needed. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board of Governors, says Geithner should be doing less lecturing and more listening in Europe in that the U.S. right now has only a “deeply flawed” legislative proposal to show as its response to the financial crisis.

“The better posture for the U.S. to strike on the international stage would be a willingness to cooperate with ongoing reform initiatives by the G-20, the Financial Stability Board, and others.”

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu