You're watching...
FBN’s Peter Barnes on the challenges for the government as well as the financial sector to implement the regulations in Dodd-Frank.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
All by JPMorgan said Dodd-Frank.
This is the regulatory reform look at it.
848.
Pages long by the way it's something like 23 times longer than Glass-Steagall the Volcker Rule alone.
Has 383.
Questions to it.
And then you break that down Peter into -- 1420.
Sub questions.
Of the 400 rules included in Dodd-Frank.
They're not really cooking this thing fast enough 93 have been mandated or some people think don't cook it at all what are the regulators.
On Capitol Hill doing now Peter are they stoking the fire to speed this up.
Well let's listen both the regulators and industry officials say that all of this is very -- would cut complicated.
And is too important to get wrong there been 181000.
Plots.
Comments public comments filed on the Volcker Rule -- rule making.
Process alone over at the Federal Reserve.
And at this fiscal summit.
This morning the Treasury Secretary however said that the loss at JPMorgan case -- JPMorgan Chase makes the case for financial reform.
Powerful take a listen.
We are gonna work very hard to ensure that these reforms are tough.
And effective.
Not just the -- rule.
But the broader a couple of reforms on capital and liquidity -- -- markets again so that when firms make mistakes which is inevitable those mistakes don't clear risk.
The broader fortunes of broader health problems security -- a of the economies.
-- now the Fed is trying to wrap up its work on the Volcker Rule sometime this summer but has given the industry.
Two years to comply with the final -- so won't take effect until -- 2014.
At the earliest was Peter thank you very much Peter Barnes at.
