Better Markets President and CEO Dennis Kelleher addressed academics, regulators, and bankers gathered in Boston on July 9 for a Federal Reserve conference devoted to scrutinizing stress tests’ transparency and effectiveness.
Kelleher framed the central question for policymakers as:
“Do stress tests serve their purpose in protecting the public, taxpayers, the financial system, and our economy from undercapitalized, over-leveraged, too-big-to-fail banks that pocket profits and bonuses in good times, and shift their losses to taxpayers and Main St. in a crisis?”
Kelleher spoke on the conference’s first panel, which discussed “Stress Tests as a Policy Tool.”
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