A New (dis)Order?: The Promises and Pitfalls of Financial Market Reform

Date: April 12, 2010 from 6:00 PM to 7:30 PM
Location: Columbia University Morningside Campus Low Memorial Library, Rotunda

A panel discussion featuring

Phil Angelides, Financial Crisis Inquiry Commission Chairman
Gary Gensler, Chairman, Commodity Futures Trading Commission
Arthur Levitt, Former Chairman of the US Securities and Exchange Commission
Joseph Stiglitz, University Professor of Economics, Columbia University

The panel will address whether the regulation of systemic risk is possible in complex financial systems, what the key components of an effective global governance regime should be, and what obstacles threaten such reforms.  While the specific contours of the new financial architecture are still being determined, the panel will likely explore some of the following issues:

  • Is it possible to regulate systemic risk in a complex financial system?
  • Can regulators ensure accountability and transparency in a financial system characterized by complex instruments, a shadow banking system, and markets characterized by dark pool trading?   
  • Along with the political power of the financial industry, are there other formidable obstacles preventing financial market reform?
  • Has the legacy of the original bank bailout created new obstacles to substantive reform? 
  • How should interactions between the general public and the financial system be structured, i.e. has the crisis required a reexamination of the "democratization of finance?"

Co-sponsored by:
The Committee on Global Thought

Program for Economic Research
World Leaders Forum

 

A New (dis)Order?: The Promises and Pitfalls of Financial Market Reform from Committee on Global Thought on Vimeo.