The Wall Street Journal published an op-ed titled “A Government Agency Worth Saving” by Sheila Bair and me in today’s Weekend Edition. We note that:
– Some underperforming government agencies should be restructured rather than closed. This is true of the Office of Financial Research, which Congress created after the 2008-09 financial crisis to help anticipate and avert future crises.
– To be sure, the OFR has not measured up to its original purpose. But it would be a huge mistake to end access to the data and intelligence that OFR collects during a time of international uncertainty and market turmoil.
– We offer concrete steps on crisis detection and prevention, data and analytics, as well as governance to restructure and refocus OFR – not close it down.
We look forward to any comments you might have.
View the full article here.
