2.B.2: Working Markets
Ensure working financial markets. Other Information:
While free and open markets provide significant benefits, they must work for consumers and investors. The recent financial
crisis highlighted the danger of managing a 21st century economy with a 20th century regulatory framework. We are committed
to building a system where individuals and businesses can innovate and take chances without fearing that the system will pose
untenable risks. Our plan: ◦Requires that all financial firms that pose a significant risk to the financial system at large
are subjected to consolidated supervision and regulation. ◦Increases supervision of financial markets to help ensure that
our markets are strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions.
◦Rebuilds trust in our markets by creating a Consumer Financial Protection Agency to focus exclusively on protecting consumers
in credit, savings, and payment markets. ◦Provides the government with the tools to cope with crises by ensuring the orderly
unwinding of failing firms and avoiding the untenable choice between bailouts or damaging collapse. ◦Raises international
regulatory standards and improves international coordination.
Indicator(s):
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