Summit Notebook

Exclusive outtakes from industry leaders

Bank regulator Walsh has pragmatic philosophy on financial crisis repeat


John Walsh has spent many years in Washington — having worked at the Senate Banking Committee, the Treasury Department, and now asĀ  acting Comptroller of the Currency — and has a bit of perspective on government reaction to crises over the years.

FINANCE-SUMMIT/WALSHSo he has a fairly pragmatic philosophical approach on whether U.S. efforts will succeed in making sure the financial crisis does not recur.

“It is hubris to imagine that we can anticipate all the things that can go wrong and prevent them. That has never happened in human history, I don’t know why it would happen here,” Walsh said at the Reuters Future Face of Finance summit.

The Dodd-Frank set of Wall Street reforms includes components that are “on point to try to avoid such a thing happening again,” he said.