U.S. Treasury Secretary Benson: Now it's time for ordinary people to take the lead, not Wall Street alone

Odaily Planet Daily News: U.S. Treasury Secretary Bessant said it is now the turn of ordinary people to take the stage, not Wall Street. Bessant also said that he would focus on more targeted supervision, noting that supervision should be fair and evenly applied across entities. "The U.S. Treasury intends to promote changes in regulatory culture by improving review procedures, strengthening supervision of examiners' compliance with these procedures, and more realistic procedures for appealing regulatory results," Bessant said. "Perhaps the most important step is to define rules for "unsafe and unsound" using more objective measures based on financial risks." He said he would pay special attention to more targeted supervision of community banks, which have been struggling with "undue compliance burdens" that require heavy investments in technology. "Wall Street has been richer than ever in the past four decades. It can continue to grow and perform well." But in the next four years, it will be the turn of 'Main Street' to drive investment. (Jinshi)