American finance for the 21st century

Author / Creator

Litan, Robert E., 1950-

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Summary

This report presents a framework for setting policy toward the financial services industry in the coming decades. The authors, who worked closely with senior Treasury officials in developing their ...

This report presents a framework for setting policy toward the financial services industry in the coming decades. The authors, who worked closely with senior Treasury officials in developing their recommendations, identify three core principles: an enhanced role for competition, a shift in emphasis from preventing failures of financial institutions at all cost toward containing the damage of the failures that inevitably occur in a competitive market, and a greater reliance on more targeted interventions to achieve policy goals rather than broad measures such as flat prohibitions on certain activities.

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