Gensler: Exorbitant Privilege: Responsibilities and Challenges

From sec.gov

Good morning. I’m honored that Mike and you invited me to speak today. Mike has a long history of public service, including having participated in hiring me twice, first into the Clinton Treasury Department and later the Obama Administration. As is customary, I’d like to note that my views are my own as Chair of the Securities and Exchange Commission, and I am not speaking on behalf of my fellow Commissioners or the staff. In 1965, Valéry Giscard d’Estaing, then Finance Minister of France and subsequently President of France, in speaking about the U.S. dollar, coined the term “exorbitant privilege.” He was ... (full story)