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Terrence A. Duffy
Chairman
CME Group (CME), parent of the Chicago Mercantile Exchange
"He needs to assemble a team around him that has good experience, for one, and a good practical sense, for two. That always spells a good combination for a healthy economy. Discipline is something that really needs to be instituted, not just in the American people, but in people around the world. We've grown so fast over the last several years. I think a lot of people may have gotten over their skis a little bit. We just need to have a little more discipline in how we handle our own financial responsibilities. That's one of the things a good leader will do.
Right now, there's a $700 billion plan that's already been approved by the Congress. I think we need to see how that all gets shaken out. That plan has yet even to be enacted. It's going to take several months for that to go into the system, and I think before we start suggesting that the taxpayer fund another stimulus plan, we should first see how the first one is going to work. Otherwise, the markets just need to work these things out, and it may just take some time.
If government is going to take the practice of bailing out banks, then obviously they [banks] are going to have to listen to the legislators and the people who put them there about how their futures are going to look. Regulation in my opinion is something that's going to be the order of the day, and that's not going to go away. There's going to be much more transparency in the new world that we're looking at. We're also going to see a lot of different regulations coming out of the Administration."
