CSR Press Release

NEW YORK, NY - July 7, 2009 - On June 4th, The Aspen Institute and New York University Stern School of Business, with support from Ernst & Young, brought together leading academics and business practitioners to discuss how new financial market regulations can lead to economic recovery and growth. A short paper summarizing the discussion, entitled "Toward Better Financial Market Regulation," is available at http://aspencbe.org/E-newsletter/June09/TowardBetterFinancialMarketRegulation.pdf

Senior business and law faculty and business practitioners, as well as a small contingent of former senior government officials, brought a variety of different perspectives to the discussion. Issues explored included creating a mechanism to price systemic risk so as to disincentivize its creation, insulating the market at large from the destructive potential of derivatives, and international cooperation in regulation and corporate governance.

Taking part in the discussion were former SEC Chairman William H. Donaldson, NYU Stern School of Business Dean Thomas Cooley, and Columbia Law professor John Coffee, as well as other leading representatives from academia, business, institutional investment, and the foundation world.

Although participants were divided in their opinions on most of the major topics discussed, they agreed on the need to foster accountability, focus on long-term stability and be mindful of the interests of investors. Aspen will release a longer document summarizing the roundtable discussion in more depth in the coming weeks.

The Aspen Institute is well known for convening leading thinkers and providing thought leadership on issues that are critical to public debate. Aspen's Center for Business Education (AspenCBE.org) specializes in topics at the intersection of business and society and in fostering dialogue among business schools about how best to prepare the next generation of business leaders.

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