Foglia, Antonio, (2017), “The Post-Crisis Elephant in the Room”, Project Syndicate, 24 August
The global financial crisis that began in August 2007 resulted from a massive, unavoidable cognitive mistake on the part of regulators and bankers. It is now ten years later, and yet few are willing to admit this fact, let alone explore appropriate remedies.
In fact, the opposite has happened: regulators have piled on ever-more complex rules, and too-big-to-fail banks have become still bigger. Even worse, the wrong-headed response to the crisis threatens not just the financial sector, but open societies generally.
Relevant Posts
- William R., Cline, (2017), «Capital Requirements For Banks Are Needed But Costly—Only Limited Increases Are Called For», PIIE, 12 June
- Demertzis, Maria , Lehmann, Alexander , (2017), «Tackling Europe’s crisis legacy: a comprehensive strategy for bad loans and debt restructuring», Bruegel, 24 April