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Yeah, that was my greatest take away from what I've read from him. Talk about the tail wagging the dog. The restrictions in this light almost do more harm than
by lsd5you 10y ago
Yeah, that was my greatest take away from what I've read from him. Talk about the tail wagging the dog.
The restrictions in this light almost do more harm than good since it exonerates the banks (or rather the system) and every time we have a crisis (after people have been making the big bucks for years) we treat it as mysterious and unrelated to the profits made in the 'good' times.
- maxerickson 10y agoOne of the primary responses to the 2008 crisis has been to change the regulations around capital requirements for banks and other financial institutions. https://en.wikipedia.org/wiki/Basel_III https://en.wikipedia.org/wiki/Basel_III Note that even though the introduction calls it a voluntary framework, the US and EU have implemented much of it in their regulatory systems.