It makes no sense in this technologically enabled financial landscape to prudently regulate financial institutions and not the financial risk in the economy.
Since the 1970s beginning with money market funds, a growing universe of thinly regulated financial companies and products have been slicing off sectors of the financial services business. Nevertheless, the full weight of regulation has fallen on the shoulders of commercial banks and savings institutions, leaving a supervisory structure that is ill-suited to a system that channels risk into unregulated sectors of the economy.
Says:
Executive Director and Professor of Law, George Mason University's Scalia Law School, Program on Financial Regulation & Technology
I read part one, enough for me to believe this guy. Risk equalization in the pit reduces scofflaws.
No comments:
Post a Comment