On December 16, the Economic Studies Program at Brookings discussed the overall issue and the OFR’s report. Douglas Elliott moderated a panel with Richard Berner, director of the OFR; and Brian Reid, chief economist of the Investment Company Institute to frame the issue. Martin Baily moderated a second panel to debate whether asset managers do contribute significant systemic risk. Panelists included Paul Kupiec of the American Enterprise Institute, Marcus Stanley of Americans for Financial Reform, and Douglas Elliott.