10 Truths about the Financial System

Wednesday, March 25, 2015 - 10:30am

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

  1. A well-regulated system lifts everyone up.
     
  2. Consumers must be protected—but they must also be served.
     
  3. Capital markets are the key to commerce.
     
  4. Diversity in the system is a strength—not a weakness.
     
  5. Overregulation stifles innovation.
     
  6. By regulating only for stability, we will sacrifice growth.
     
  7. Our economy is global—the U.S. financial system must be too.
     
  8. Efforts to reform the system have made it more complex and less coordinated.
     
  9. Business is not against regulation, we just want smart regulation.
     
  10. It’s not too late to fix the system.