Monday, May 18, 2009

Robert Heller: How to Heal the Financial Markets

The economy and financial system may look like messes today, but they can be fixed. Robert Heller, a former governor of the Federal Reserve Board and the former CEO of VISA U.S.A., told The Commonwealth Club on April 29 that there were several things that needed to be done to restore confidence in our financial markets.

First, we need to "sharply limit or even eliminate" the ability of certain financial institutions to take speculative positions. Second, let corporations choose a set of rules under which their securities are traded (to, for example, require buyers to hold their securities for a week before reselling them). Third, establish a safe pension system.

Find out how he thinks these things will have an impact. Watch the video:


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