President Obama and Congress have made financial regulation one of their top priorities for 2010. The president began the New Year with proposals that he believes will prevent future financial crises. Senator Chris Dodd has introduced a financial reform bill. But will the plans—which include creating a systemic risk regulator, prohibiting banks from in-house trading and imposing a new tax on large financial firms—really work?
Nicole Gelinas, a Manhattan Institute senior fellow and author of the critically acclaimed book After the Fall: Saving Capitalism from Wall Street—and Washington, thinks not. She offers a sensible, straightforward alternative that would allow financial firms to fail without threatening the rest of the economy. Nicole will be joined by Stephen Moore, an editorial board member and senior economics writer at the Wall Street Journal.
Introduction: Yuval Levin, Editor, National Affairs
Respondent: Stephen Moore, Member, Editorial Board & Sr. Economics Writer, Wall Street Journal