Other countries blame the U.S. for destroying the global economy through its poorly regulated finance sector, and now the U.S. wants to run a registry of its design to impose its idea of a solution to reduce systemic risk.

FORBES: America's Attempted Domination Of LEI Slams into FSB Wall

The challenge now is to design a regulator for the finance industry that actually measures and focuses on systemic risks, rather than on the individual parts of the system.

ECONOMIST: In praise of the ideas of Russ Ackoff