In a speech at the Levy Institute’s annual Hyman P. Minsky Conference today, Senator Elizabeth Warren laid out a set of proposals to advance the process of financial reform that began with the enactment of the Dodd-Frank Act of 2010.

Americans for Financial Reform has steadily advocated for many of the policy ideas outlined in her speech, and applauds this heightened push to advance them. These include:

• Measures to hold large financial institutions accountable if they violate the law
• A financial transaction tax to restrain high-frequency trading and wasteful speculation
• Restoration of the Glass-Steagall division between investment and commercial banking, along with other steps to reduce the size and power of Too Big to Fail banks
• Limitations on the Fed’s use of its emergency lending authority, in order to keep Wall Street from playing short-term games with low-cost debt
• Changes in the tax code to discourage excess leverage and recklessness on the part of the big banks and their traders and executives

Even more important, we support Senator Warren’s call for a renewed effort both to carry out the Dodd-Frank reforms and, based on the lessons of the implementation process up to now, move beyond “technocratic” measures that can be easy for the biggest banks to outmaneuver toward a more “structural” approach and the promise of a fundamentally simpler, safer and fairer financial system.