Regulatory authorities in countries around the world are attempting to improve financial regulation and supervision. In the aftermath of the global financial crisis, these attempts involve a three-step process: (1) diagnose what went wrong, (2) design regulatory and supervisory reforms that address these defects, and (3) implement the corrective reforms.
We argue that US efforts to enhance financial regulation and supervision have faltered along each of these three dimensions. In particular, we provide numerous examples demonstrating that US authorities misdiagnosed, or perhaps in some cases even wilfully disregarded, the causes of the crisis both by overemphasizing factors that did not play decisive roles in causing the onset or severity of the crisis and by underemphasizing factors that did. To increase regulatory accountability and help prevent another financial crisis, we propose the creation of an agency that would have access to all of the information available to regulators and whose sole function would be to publish regular reports on the key systemic risks in the financial system, and assessments of the adequacy of regulators responses.
Even before the onset of the COVID-19 pandemic, the United States was confronted with a number of significant policy concerns. Today, working together to solve those challenges is more imperative than ever. The Milken Institute is committed...
The 26th annual Milken Institute Global Conference convened the best minds in the world to tackle its most urgent challenges and realize its most exciting opportunities. Throughout the four-day event, our health teams curated nearly three...
Countries undergoing population aging today are facing a much different experience than their historical counterparts. One only needs to look at the countries in Asia to see how these trends are unfolding. Demographic aging is happening...
In this collection of essays from the Center for the Future of Aging, experts identify challenges and opportunities in realizing the potential of healthy, productive and purposeful aging.
Technical Update Dementia presents a pernicious gender-based health disparity in the United States, inflicting a disproportionate burden on women as both patients and caregivers. Given the rapid increase in the population of older Americans...
Nationwide protests in the summer of 2020 sparked many of the largest US corporations to pledge more than $200 billion to advance racial equity and confront the nation’s history of systemic racism. Nonprofits, government agencies, and...
This year’s report, Building a Resilient America: The New Consensus for Action, is part of The Milken Institute-Harris Poll Listening Project, now in its fifth year, which surveys socioeconomic, institutional, and political barriers to...
Employers seek to support their employees while normalizing a whole-person approach to substance use disorders (SUD). The response to addiction and the opioid crisis requires a whole-of-society approach, including employers of all sizes...
While some sounds can be annoying for most people, for a few, certain sounds like chewing, sniffling, or pen clicking can trigger an intense physical and emotional response. Those with this condition can experience increased heart rate...