US Treasury Secretary Besson: Now it's time for ordinary people to take the stage, not Wall Street leading the way

Odaily Planet Daily News: US Treasury Secretary Bessent said it's time for ordinary people to take the stage, not Wall Street leading the way. Besent also stated that he will focus on more targeted regulation, stating that regulation should be fair and evenly applied across entities. Bessent said, "The US Treasury Department intends to promote a change in regulatory culture by improving review procedures, strengthening supervision of reviewers' compliance with these procedures, and establishing more realistic procedures for appealing regulatory results." "Perhaps the most important step is to use more objective measurement standards based on financial risk to define 'unsafe and unsound' rules." He said he will pay special attention to more targeted regulation of community banks, which have been struggling to address the 'improper compliance burden' that requires significant investment in technology. In the past forty years, Wall Street has been richer than ever before. It can continue to grow and perform well. But in the next four years, it will be the turn of the 'main street' to drive investment. (Golden Ten)