Financial Regulation After the Crisis

摘要: I critically discuss the main points in financial reform legislation passed United States 2010, with adoption of Dodd-Frank Act, and planned proposals that are currently being drafted discussed European Union. The general philosophy behind both reforms is similar. inspiring idea innovation must be encouraged because it increases consumers' welfare and, by summing across all individuals, whole society's welfare. All effort concentrated redesigning regulatory supervisory tools to deal range new products able more accurately measure risks arising from them than was done past. Once banks ready face those risks, stability should follow. No structural measures aimed at changing structure markets or business strategies banking nonbanking firms have been considered. shadow system has not explicitly addressed ...