The Worst Is Likely To Be Behind

When You Have A Big, Ugly Problem, There's Never Going To Be A Neat, Elegant Solution That Is Totally Painless Or Without A Cost.

My Preference Is For The Federal Reserve To Be The Systemic Risk Regulator, Because The Responsibility For Identifying And Limiting Potential Problems Is A Natural Complement To Its Role In Monetary Policy.

A Single Agency Responsible For Systemic Risk Would Be Accountable In A Way That No Regulator Was In The Run-up To The 2008 Crisis. With Access To All Necessary Information To Monitor The Markets, This Regulator Would Have A Better Chance Of Identifying And Limiting The Impact Of Future Speculative Bubbles.

Every Global Concern - Economic, Environmental Or Security-related - Can Be Addressed More Effectively When The U.s. And China Work Together.

I've Always Said, 'i Don't Want To Be Irrelevant.'