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The Spectre of Banking

Martin Mayer

Economics One-Pager Archive from Levy Economics Institute

Abstract: A year and a half after the collapse in the financial markets, the debate about necessary "reforms" is still in its early stages, and none of the debaters seriously claims that his solution will in fact prevent a new crisis. The problem is that the proposed remedies deal with superficial matters of industrial organization and regulatory procedure, while the real problems—outsized, ungovernable financial firms and rampant securitization-lie on a more profound level.

Date: 2010-05
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