Market Oversight Quotes

Men may differ as to the particular form of governmental activity with respect to industry and business, but nearly all are agreed that private enterprise in times such as these cannot be left without assistance and without reasonable safeguards lest it destroy not only itself but also our processes of civilization.

I think people have to be very careful with new ideas [in fiancé and economics]. What you need to worry about is when you have something that’s a really good idea, but you get too much of it too fast, like over-the-counter derivatives.

Almost 85 percent of the Latin American market is subject to net neutrality rules, and the European Parliament already favors strong ones.

We can't expect Wall Street to police itself - that's why we have a federal government.

I want to establish the Corporate regime [immediately].... The Corporations will be called upon to regulate all problems of production. A policy of unregulated production is folly and generally catastrophic.

Today we see how utterly mistaken was the Milton Friedman notion that a market system can regulate itself... Everyone understands now, on the contrary, that there can be no solution without government.

A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.

Over the objections, where they sound like squealing pigs, over the objections of Romney and all his allies, we passed some of the toughest Wall Street regulations in history, turning Wall Street back into the allocator of capital it always has been and no longer a casino. And they want to repeal it.

The Federal Reserve has a responsibility to ensure the safety and soundness of financial institutions and to contain systemic risks in financial markets.

All woolen cloths shall everywhere be made of the same breadth, two ells within the lifts …. The ell shall be of the same length over all the kingdom …. No merchant in and part of the Kingdom of England shall stretch before his shop or booth a red or black cloth, or any other thing, by which the sight of buyers is frequently deceived in the choice of good cloth ….. In all cities and burghs, 4 to 6 men, according to the size of the place, shall be appointed to enforce the observation of these regulations by seizing the persons and goods of those who transgress them.

You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.

Since the dawn of civilization, markets have been ubiquitous. Many of us have benefited from their focus and efficiency. Yet two widely held beliefs - that markets are best left unregulated and that markets are inherently benign - are naive and outdated.

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

Under the Dodd-Frank law, the SEC got the lion's share of the rules to write, more than 100 rules, and we have done an extraordinary amount of that. Eighty percent have been either proposed or adopted. So, a lot, a lot accomplished but of course, more to do.

Washington told Wall Street, 'We're going to let y'all regulate yourselves.' The Republicans were in charge. They never said a word.

What a nightmare it would be if we individually had to criminalise every single abuse of every single commodity, market or financial product. There are thousands of these and new ones being invented every day. Such an approach would have disastrous implications for regulation and policy-making. Any slide towards it must be resisted.

A lot has been done to improve safety and soundness and confidence in financial markets and financial institutions, a lot of which was necessary.

The bottom line is the best consumer protections are competitive, innovative markets that are transparent. Now, they need to be vigorously policed for force and fraud, but the agencies that do that need to be accountable.

Light touch regulation means that we create broad regulatory frameworks that can protect consumers to ensure an overall competitive marketplace.

Regulatory creep usually starts with calls for 'regulatory parity.' The mantra will be, if you are going to impose certain regulations, then it is only fair to stick it to all market participants equally.

Analysts say that one reason Fannie Mae and Freddie Mac were privatized in the first place was to prevent political whims from dominating the mortgage marketplace.

As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.

With the derivatives market larger than ever, we need way more regulation of Wall Street, not less.

The United States stock market, the most iconic market in global capitalism, is rigged.

I don't think that left to its own devices, capitalism moves along smoothly and everyone gets treated fairly in the process. Capitalism is like a child: if you want the child to grow up free and productive, somebody's got to look over the shoulder of that child.