Next Monday, October 4th, I’ll be holding a conference for the Roosevelt Institute titled “Will It Work and How Will We Know? The Future of Financial Reform Conference.”
Here at the Roosevelt Institute we’ve fought for financial reform over the past year with events including our Make Markets Be Markets project. We’ve worked to increase the sophistication of the discussion surrounding specific issues. We’ve also pushed for the role of regulation in creating rules of the road necessary for a healthy financial system that works to build the real economy. The first round of that battle is over with the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act. It’s time for phase two.
Most other policy initiatives have some sort of conceptual metrics associated with them – “bending the cost curve” for health care, “jobs saved/created” for the stimulus and test scores for No Child Left Behind. Bundled with the goalposts of a metric is an idea of how the policy should work, as the metrics can’t really be separated from creating what it is that is going to be measured. So we need to figure out what bending the cost curve of financial reform is: what are ways to know if the policy implementation is going well or poorly? How can we tell if we are closer or further away from a functioning financial market?
We are gathering some of the best minds of financial reform to discuss this. Here is the current schedule, with a panel focus on Too Big To Fail, as well as a focus on the financial markets broadly construed from derivatives to consumer lending.
It’s a small venue at capacity, but it will all be online shortly after the conference. We’ll be putting out a booklet of white papers by the authors outlining their ideas about what went wrong and all that will be available online. (Getting this in order is why I’m pulling out what remains of my hair, and why I’ve been silent here lately.) The conference and materials will feature some people you’ve seen here before, including Michael Greenberger, Wallace Turbeville, Jerome Fons, Rick Carnell and many others. I’m honored to have opening remarks by Senator Jeff Merkley (D-OR) and Congressman Brad Miller (D-NC), two people who fought tooth and nail to get the best financial reform bill they could. I hope you check it out online, and we’ll be building off it at this blog in the future.