Wall Street and Washington: Striking a Balance
Speaking at the Wall Street to Washington conference hosted by the Securities Industry & Financial Markets Association (Sifma) last month, Anthony Ryan, the Treasury Department's assistant secretary for financial markets, pointed out that the name of the event "sounds like a one-way trip." Citing the recent events in the financial markets, Ryan stressed the "two-way" nature of the relationship between regulators and the private sector and highlighted several areas where Wall Street needs to "share responsibility and be actively engaged." An excerpt of the speech follows.
Successful capital markets and effective regulatory policy do not happen independently--quite the contrary. The fact is, success is interdependent; hence the need for the relationship to be two-way. How it evolves is up to both the private and public sectors.
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