Can Gary Gensler solve every problem in American finance?

Everyone in finance has an opinion of Gary Gensler. To many, the chairman of the Securities and Exchange Commission (sec), America’s main financial regulator, is meddlesome and overreaching. Mention him in crypto circles and you invite a convoluted description of a token or project, followed by the speaker hissing: “How can that be a security?!” His plans have raised the eyebrows of other policymakers, alarmed lobbyists in Washington and panicked much of Wall Street. One bank boss sneers that his agenda is ridiculous. So broad are his aims, “he must think he is an Avenger,” assuming he can “swoop in and fix every problem in finance.”

It is impressive to have made such an impression after just 18 months at the helm. In Mr Gensler’s brief time in office he has made filings to propose or finalise 40 sets of rules. At this point in his term Jay Clayton, Mr Gensler’s Republican predecessor, had made just a third as many. Mr Gensler is also comfortably batting above the…

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This article was written by and originally published on www.economist.com