Tim Ryan, president and CEO of the Securities Industry and Financial Markets Association (SIFMA), today made the following statement after president-elect Obama announced the creation of the Economic Recovery Advisory Board:
“This is an early indication of the kind of interesting and creative thinking happening within the Obama economic team. Designed correctly, this board could provide valuable insight and perspective to the day-to-day policymakers who are sometimes overwhelmed with the urgency of unfolding events.
“The appointment of Paul Volcker as Chairman signals that this group will be made up of insightful, experienced individuals with impeccable credentials. The current economic turmoil and the need for smart financial services regulatory reform should both be on their agenda and we look forward to sharing our thoughts and ideas with this new group.”