This site is for archive purposes. Please visit for latest updates
Go to Top

The Post-Crisis Elephant in the Room

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