Hal Scott on the Rekindling of Trust in Wall Street

The video discusses the state of trust in Wall Street in 2017, highlighting President Trump's efforts to promote a strong financial system. It addresses the numerous regulatory vacancies in Washington, emphasizing the importance of filling these positions for effective supervision. The discussion also covers the Dodd-Frank Act, comparing it to past securities legislation and suggesting a need for regulatory adjustments to balance growth and regulation.

What is President Trump's message regarding Wall Street's role in the economy?

• The economy can thrive without Wall Street.

• A strong financial system is crucial for a strong economy.

• Wall Street is solely responsible for the financial crisis.

• Wall Street should be avoided at all costs.

What is the current situation regarding key financial regulatory positions in Washington?

• All positions are filled and functioning well.

• The vacancies are not important for regulation.

• There are many vacancies that need to be filled.

• Only a few positions are vacant.

Why is it important to fill the vacancies at the Federal Reserve?

• To reduce the number of employees in the government.

• To ensure proper supervision and regulation of the financial system.

• To increase the number of regulations.

• To avoid any changes in the current system.

What historical acts are compared to the current need for financial regulation?

• The Civil Rights Act of 1964.

• The Social Security Act of 1935.

• The Securities Act of 1933 and 1934.

• The Clean Air Act of 1970.

What is the expected adjustment in financial regulation post-crisis?

• A shift towards more growth with less regulation.

• An increase in over-regulation.

• A complete removal of all regulations.

• Maintaining the current level of regulation.