He was vague on specifics, but described the need in a speech at the Fed’s economic symposium.

I agree that more regulation is needed, but I do not agree with what appear to be his suggestions.

Bailout should not be what is done when an institution is too big to fail, that creates perverse incentives. Nationalization, where investors and share holders are wiped out to the greatest degree possible should be.

Additionally, I would modify anti-trust law to add “too big to fail” to the reasons for a breakup.

Finally, I believe that the complex secularization mathematics should be severely restricted.

All that “innovation” in the financial markets has gotten us the mess that we are in now.