The Dodd-Frank legislation has many problems and omissions, and much is still uncertain about implementation. But the new liquidation authority provides for the possibility of making it so that future crises do not involve the bailouts of creditors that truly embodied the problem of having banks that are too big to fail.

Ever since its founding in 1948, the Democratic People's Republic of Korea has maintained an aggressive and bellicose international security posture. Today, fully two decades after the end of the Cold War, North Korea's external defense and security policies look arguably more extreme and anomalous than ever.

Last week, Russia and China obstructed the Obama administration’s Syria policy by vetoing an anti-Assad Security Council resolution backed by the Arab League, Britain, France, and the United States.  As harmful as this defeat was in its immediate consequences, it may bode even worse for efforts to prevent Iran from getting nuclear weapons.

The task is to design an efficient resolution mechanism that provides for either the liquidation or reorganization of large banks and other large complex financial institutions without depending upon taxpayer funds.

The "Restoring American Financial Stability Act" (The Dodd bill) that will be debated in the Senate attempts to limit the ability of the government or government agencies to protect stakeholders at failed large complex financial institutions from sharing in the losses suffered by the institution.

The fight against terrorism is no closer to success today than it was a decade ago when, in the wake of the September 11 terror attacks, President George W. Bush declared a Global War on Terrorism.

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

The Shadow Financial Regulatory Committee will present the findings of their closed door discussions.