Schwarzman: Some Regulatory Change Will Be Fast

The transcript discusses the limitations of presidential actions, the challenges in changing regulations due to political differences, and the impact of constrained bank lending on economic growth. It highlights the need for financial system reform without introducing significant risk, emphasizing that fiscal stimulus alone is insufficient for economic recovery.

What are some of the actions that can be implemented quickly within an administration?

• Public referendums

• Personnel changes

• Legislative changes

• Presidential actions

Why might it be difficult to change regulations that require legislation?

• Insufficient funding

• Philosophical differences between political parties

• International pressure

• Lack of public interest

What is a major consequence of a shrinking banking system?

• Decreased government debt

• Limited economic growth

• Higher interest rates

• Increased consumer spending

What is one of the problems Europe is facing due to its banking system?

• Excessive consumer credit

• Rapid economic growth

• Inability to provide enough loans

• Overregulation of small businesses

What is considered more effective than just implementing fiscal policy?

• Expanding social programs

• Increasing taxes

• Reforming the financial system

• Reducing government spending