Martin Wolf summarizes what can be done to begin exerting control over the banks. There is nothing new in his list, but you can feel his rage as you read his article. He's proposing:
We live in a real world and crimes will occur not matter what we do
Really penalize the perpetrators
Reduce leverage significantly
Better evaluation of risk
Make sure there is a very large margin of safety
Reinstate Glass-Stegall
What reasonable person can quarrel with Wolf on his proposals?
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