WASHINGTON—U.S. policy makers face a daunting task in successfully reshaping financial markets but must succeed to prevent future crises, two top regulators told an investigative panel Thursday.
Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp. Chair Sheila Bair, in prepared remarks before the Financial Crisis Inquiry Commission, acknowledged the challenge of implementing the recently passed Dodd-Frank law.
But regulators must succeed, Ms. Bair said, and not waste a “historic chance to put our financial system on a sounder and safer path to the future.”
“If our economy is to prosper, and if our nation is to meet the economic challenges looming ahead, our financial sector simply must do its job better,” Ms. Bair said in her testimony.
Full story: Bernanke, Bair Defend Markets Overhaul – WSJ.com