Alan Charles Raul The devastating and reprehensible acts of terrorism committed against the 11, 2001 have greatly affected our lives, our United States on September livelihoods, and perhaps our way of living. The system of government embodied in our Constitution and Bill of Rights was designed to inhibit excessively efficient government. By imposing checks and balances against over-reaching governmental power, the Founders intended to promote the rule of laws, not men - and to protect the prerogatives of citizens over and above their rulers. No faction was to become so powerful that the rights and interests of any other groups or individuals could be easily trampled. Specifically, the Framers of our constitutional structure prohibited the government from suppressing speech, inhibiting the right of free association, of people, conducting unreasonable preventing (peaceful) assemblies searches and seizures, or acting without observing the dictates of due process and fair play. After September 11, there is a risk that the philosophical protections of the Constitution could appear more than a trifle "academic. " Indeed, our tradional notions of "fair play" will be sorely tested in the context of our compelling requirements for effective self-defense against brutal, evil killers who hate the very idea of America. Now that we witness the grave physical dangers that confront our families, friends, neighbors, and businesses, our commitment to limited government and robust individual liberties will of our inevitably - and understandably - be challenged.
The Great Financial Crisis of 2007-2010 has had a major impact on large cross-border banks, which are widely blamed for the start and severity of the crisis. As a result, much public policy, both in the United States and elsewhere, has been directed at making these banks safer and less influential by reducing their size and permissible powers through increased government regulation.At the Federal Reserve Bank of Chicago's 18th annual International Banking Conference, held in November 2015, the status of these large cross-border banks was critically evaluated. In collaboration with the World Bank, the conference held discussions on the current regulatory landscape for large and internationally active financial institutions; the impact of regulation on bank permissible activities and international trade; improvements in risk management; necessary repairs to the bank safety net; the resolution of insolvent banks operating across national borders; corporate governance for banks in the new environment; implications for market and government discipline; and, progress in achieving international cooperation.Contributors include international policymakers, practitioners, researchers, and academics from more than 30 countries. The papers from the conference are collected in this volume.