From: Council on Foreign Relations
The Case for U.S. Economic Leadership: A Conversation with Jacob J. Lew
Speaker: Jacob J. Lew, Secretary, U.S. Department of the Treasury
Presider: Sebastian Mallaby, Paul A. Volcker Senior Fellow For International Economics, Council on Foreign Relations
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Transcript
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Fourth, to prevent a repeat of the financial crisis, we must continue to lead efforts to reform the international financial regulatory system. U.S. leadership in this area has already resulted in more rigorous capital standards for banks, greater transparency in the derivatives market, and stronger tools for managing the failure of financial institutions. With many of the critical standard-setting reforms in place, the focus must shift to comprehensive and consistent implementation and close attention to emerging threats.
