The Huntsman plan for regulatory reform is a good effort, but it fails to come close to accomplishing the one major goal that it highlights in its summary description — “ending” too-big-to-fail (TBTF).

Longstanding policies that were intended to promote confidence in the independence of regulatory decision-making have now been wiped away by the Dodd-Frank act, which has in effect placed all the financial regulators under the direction of the Treasury secretary.

For many in the U.S., the worrisome events occurring in Europe recall the 2008 financial crisis. If Greece or some other country should fail to meet its debt obligations, the result could be much like the 2007 mortgage meltdown in the United States. Why is all this happening again?

The financial crisis in Europe seems very complex, but we understand that how it comes out will have important and perhaps painful consequences for Americans as well as Europeans. As a guide for the perplexed, here are some Qs and As that might shed some light on why we are where we are.

In regards to the Federal Reserve as super regulator, change is needed and long delayed, but appropriate change must protect the public, not bankers.

Congress should focus on giving more transparency to investors and market participants to limit risk and encourage growth.

The Basel Committee on Banking Supervision (Basel Committee) is proposing to regulate bank liquidity. This marks a major innovation in the Basel approach to international banking regulation.

At this luncheon press briefing, SFRC members will issue one or more statements and answer questions.