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Prof. Thomas Cooley on the FSOC

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Excerpt from American Banker -- "Tom Cooley, professor of economics at New York University's Leonard Stern School of Business, said the idea of investigating asset management is not necessarily wrong on its face. But he said the FSOC's approach opened it up to criticism and made the council look weak. 'That was just kind of wrongheaded in the way you think about asset managers,' Cooley said. 'They kind of got it wrong and kind of jumped the gun, and [it] got a lot of people who don't like Dodd-Frank to jump down their throats.'"

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