South By North Strategies, Ltd.

The current issue of The American Prospect contains a special report discussing the issues that should be addressed as part of any comprehensive financial reform. The package features commentaries by such thought leaders as Elizabeth Warren, Simon Johnson, and Robert Kuttner.

In the introductory essay, Robert Johnson, the executive director of the Institute for New Economic Thinking, identifies nine fundamental issues that must be addressed in any meaningful reform:

• Derivatives reform
• Off-balance-sheet reform
• Rating-agency reform
• Restructuring of housing finance
• Separation of risky activities from the financial safety net
• Separation of activities that have inherent conflicts of interest within a firm
• Legal resolution powers for large failed institutions, with consistent cross-border standards
• Significant increase in resources and salaries for supervision, examination, and regulation
• Consumer financial protection.