Seven years after the financial crisis, there is still a vigorous debate in this country about the basics of our capital markets system and the regulatory framework that governs it.
The Chamber’s Center for Capital Markets Competitiveness seeks to foster a thoughtful debate that is rooted in the following Ten Truths about the Financial System rather than headlinegrabbing rhetoric.
The stakes are too high to play political games. We need a regulatory system that works. One that services consumers, empower entrepreneurs, fuels business growth, strengthens the economy, and ensures our competitiveness.
10 Truths about the Financial System
- A well-regulated system lifts everyone up.
- Consumers must be protected—but they must also be served.
- Capital markets are the key to commerce.
- Diversity in the system is a strength—not a weakness.
- Overregulation stifles innovation.
- By regulating only for stability, we will sacrifice growth.
- Our economy is global—the U.S. financial system must be too.
- Efforts to reform the system have made it more complex and less coordinated.
- Business is not against regulation, we just want smart regulation.
- It’s not too late to fix the system.