The former Fed vice chair is a logical alternative to Janet Yellen and Larry Summers. He's got the central bank and industry experience, plus his confirmation would make history.
Basel's barely noticed, but important paper on how to measure banks' equity-investments-in-funds risk signals its strong concern with how banks are interconnected to shadow financial firms.
As they push to have over-the-counter derivatives cleared with central counterparties, regulators must not let these clearing houses become systemic risks themselves.
The promising Senate bill needs to do more to ensure an affordable market for multifamily mortgages, aid historically underserved borrowers and protect struggling homeowners.
