Warren: Americans ‘understand the game is rigged’

[Peaceful Protester]

44. What Ought To Be Done Now

Analysis - What Ought To Be Done Now?
http://www.pbs.org/wgbh/pages/frontline/warning/themes/ought.html

I think we have to close the regulatory gap. ... We need to take a lesson from the existing futures markets where exchange trading has been safe.
-- Brooksley Born Chair, CFTC (1996-1999)

I believe strongly that we need two complementary regimes. We need to regulate the dealers, these 20 or 30 large global financial firms that issue these derivatives. How should we regulate them? We should make sure there's a lot lower risk, and we do that by capital and having margin requirements. Capital means money put to the side in case of crisis and so forth.
-- Gary Gensler Chair, Commodity Futures Trading Commission (2009-present)

We need to reduce the number of different regulators that are accountable for addressing these issues. We need to empower a smaller number of regulators on a consistent basis to govern activities as a function of the risk they create, not as a function of what label they bear.
-- Blythe Masters CFO, JPMorgan; in 1997, she was part of a group at JPMorgan who created credit derivatives