Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis

CHAPTER10

PREVENTING THE NEXT CRISIS

Facts are stubborn things.

—Ronald Reagan

My experience at the SEC strengthened my belief in the U.S. markets and financial system as an unprecedented engine for wealth creation for American citizens, particularly as we suffer through slow economic growth since the Great Recession.

During my time, we improved the SEC’s capacity to serve the taxpayer and investor by restructuring the IM division to be faster and more responsive, getting important new reforms off the shelf, bringing the SEC’s expertise where it was needed to deter the Fed and FSOC, and engaging top management at the major investment houses and brokerages. While these are significant changes, much more remains to be done at the SEC and other ...