This underscores the importance of completing the global financial reforms that were launched exactly five years ago this week at the first G-20 Leaders Summit. Convened by President George W. Bush following the Lehman failure, it was held in Washington on the 14th and 15th of November in 2008.
At the Summit, the Leaders agreed on a set of common principles for the reform of the global financial system. And five months later, at the London Summit in April 2009, the Leaders elaborated on those principles by committing to a sweeping and comprehensive reform agenda.