Alan S. Blinder and I have the same goal: a more stable financial industry (“Empower Regulators to Stop Risky Financial Business,” op-ed, June 20). Unfortunately, his solution will solve little. Mr. Blinder proposes equipping regulators—specifically the Financial Stability Oversight Committee (FSOC)—with more power to control risks to the financial system. Experience makes me skeptical. Before the last financial crisis, bank regulators and the Securities and Exchange Commission had plenty of power to stop the increase in leverage...

Source: Wall Street Journal June 30, 2019 17:26 UTC