The focus is to ensure that such intervention : acscorabls

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« Summers says financial rescues were 'necessity' | Page d'accueil

13.06.2009

The focus is to ensure that such intervention

The focus is to ensure that such intervention is temporary, based on market principles and "minimally intrusive," Summers said.

On the economy, Summers used slowing job losses and rising consumer and business sentiment to suggest that the worst of the recession has passed.

"While we still have a long way to go, the sense of free-fall that surrounded any reading of economic statistics a few months ago is no longer present," he said.

While crediting the president's stimulus package of increased government spending and tax cuts for contributing to the economic improvements, Summers warned that policymakers can't be complacent.

"There have already been several false dawns during this crisis," he said.

Summers made a pitch for revamping the nation's regulatory structure to better guard against future financial crises. Reiterating the administration's stated plan, he called for a regulator to police big, globally interconnected financial companies whose failure would endanger the economy and a system to safely wind down such firms on the verge of collapse.

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13.06.2009

The focus is to ensure that such intervention

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