Aspen IFS Hosts Debate Addressing Needs for Financial Reform

On November 17, 2009, Aspen IFS hosted a vibrant debate on the financial reform effort.  Moderated by President and CEO Walter Isaacson, the event featured Edward Yingling, President and CEO of the American Bankers Association, and Damon Silvers, Director of Policy and Special Counsel for the AFL-CIO.

Participants began by explaining their individual interpretations on what caused the financial crisis.  They both agreed that the financial industry employed a fundamentally unsustainable economic strategy and that increased regulation of the financial industry is vital, but they diverged significantly on their opinions on how best to reregulate the financial system.  The two specifically outlined their disagreements regarding methods addressing the “too big to fail” problem, how best to protect consumers, and how to regulate derivatives.

To watch the entire event click here.

Pictured: Damon Silvers, AFL-CIO; Edward Yingling, American Bankers Association; Walter Isaacson, The Aspen Institute