Too Much Risk Around

Mary Schapiro stated that all systematically important products and financial institutions need to come under the regulatory regime.We need to think about the roles of the regulatory agencies.All of the SEC functions must continue to exist,as they matter to the integrity of our capital markets and investor confidence.We need to have federal oversight of insurance institutions.I would absolutely support proceeding with the regulation of hedge funds to get a picture of who is out there.I have long been in favor of clearing houses to regulate credit default swaps,which are a kind of insurance for bond buyers.A lot of procedural hurdles have been placed in the way of the Enforcement Division.It is absolutely essential to re-institute the Office of Risk Assessment,to have risk assessment permeate everything the SEC does,the nominee testified.