Risk USA: Scrap systemic risk regulator plan, says former Fed Loan Bank chief

The Obama administration's plans to establish a Systemic Risk Regulator (SRR) will fail and should be scrapped in favour of a systemic risk adviser, a senior former federal official has claimed.

Speaking at the Risk USA conference in New York, Alex Pollack, a fellow at the American Enterprise Institute, a right-wing think tank, and the former president of the Federal Home Loan Bank of Chicago, pointed to the failures of the Federal Deposit Insurance Corporation (FDIC), "a relatively simple banki