Markets not "safe" until reforms passed: U.S. Treasury
WASHINGTON (Reuters) - The U.S. financial system is in far better shape than it was even three months ago, but won't be completely "safe" until Congress approves regulatory reform aimed at preventing future crises, a senior U.S. Treasury official said on Monday.
Lee Sachs, counselor to Treasury Secretary Timothy Geithner, said markets "are a lot better than they were even three or four months ago."
"I don't think we're safe until we get the right set of rules of there to reduce the possibility of a repeat," of the crisis, Sachs told a conference on the one-year anniversary of Lehman Brothers' failure.
(Reporting by David Lawder)
- U.S. war veteran released by North Korea returns home |
- South Korea to make announcement on air zone; expansion is anticipated |
- Pro-Europe protesters gather for rally in Kiev
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Obama defends interim Iran deal, seeks to assure Israel
Nelson Mandela: 1918 - 2013
Reuters looks at the life and times of Nelson Mandela, an icon of peace and reconciliation who came to embody the struggle for justice around the world. Video