The UChannel posted this video in late December. The discussion was originally recorded and organized in November by the Council on Foreign Relations, an independent research organization. Their panel is stacked with some very experienced personalities. The host is John Gapper, Associate Editor and Chief Business Commentator, Financial Times and the three panel members include: William H. Donaldson, Chairman, Donaldson Enterprises and Fmr. Chairman of the S.E.C.; Stephen Friedman, Chairman, Stone Point Capital and Fmr. Chairman of Goldman Sachs, as well as, Chairman of the National Economic Council; Ernest Patrikis, Partner, Pillsbury Winthrop Shaw Pittman LLP; Former First Vice President, Federal Reserve Bank of New York.

Beyond Firefighting: Rethinking Financial Market Regulation

This is a very complex discussion on regulation and the members seem to agree that more regulation is not necessary. Rather, they believe that effective regulation is key while arguing that our current system has shown flaws and gaps which need to be addressed and filled. I especially like Stephen Friedman’s comment that amateurs analyze the plan while the experienced analyze assumptions.

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Beyond Firefighting: Rethinking Financial Market Regulation. Perf. John Gapper, William Donaldson, Stephen Friedman, Ernest Patrikis. UChannel. 22 Dec. 2008. 5 Jan. 2009 <http://www.youtube.com/watch?v=Pzqr2zOsb8A&feature=channel_page>.