‘What Do All Those PhDs Do?’ – Bessent Calls for ‘Fundamental Reset’ of Financial Regulations
22nd July 2025
They were hoping for tenure but had to get a Real Job (well, a Government Job) instead.
Treasury Secretary Scott Bessent on Monday called for a “fundamental reset” of financial regulations to ensure they are aligned with the nation’s domestic and international priorities.
reforms” in bank regulation, noting that the system has been marked by “regulation by reflex,” where bank regulators tend to introduce new rules after issues have already occurred.
“Rather than preempting crises, regulators all too often react to them after the fact. They play the role of a hazmat cleanup team instead of preventing dangerous spillovers in the first place,” Bessent said.
“Rather than reflexively regulate anything that hits the headlines, we need to instead be more explicit about our vision for the financial system,” he added.
As Aldgra Fredly reports for The Epoch Times, Bessent said the Treasury will reinforce reform efforts by working to “break through policy inertia, settle turf battles, drive consensus, and motivate action to ensure no single regulator holds up reform.”
Government has a tendency to ignore a situation until it blows up, and then run around in circles and jump up and down in order to look like they’re Doing Something (even if it’s wrong). This was FDR’s entire political program.