From Economics 21:
by e21
Economics 21
February 27, 2012
Thus far, the regulatory response to the financial crisis threatens a false choice: between (1) thwarted innovation and less external finance available for growing businesses and households; and (2) larger, more consequential financial crises. Policymakers should and can avoid falling into this trap by replacing the Dodd-Frank regulatory thicket, including the Volcker Rule, with simple rules, amendments to the bankruptcy code, and substantial increases in margin requirements and capital levels.
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