Get rid of banks and build up a modern financial world

Rainer Lenz

MPRA Paper from University Library of Munich, Germany

Abstract: The financial crisis has revealed fatal institutional and structural deficits at the finance market. Politics has reacted to the financial crisis with a sea of legal bills and regulations. But all regulating efforts are merely system-imminent reparation measures and do not solve the core problems. For this, a fundamental financial reform is needed. This article analyzes the finance system’s shortcomings, documents the reform approaches from the past three years, and designs a base structure for modern finance architecture without banks.

Keywords: Financial crisis; Banking sector reforms; Financial sector reforms; virtual markets, peer-to-peer lending, P2P lending, online lending, finanical market regulation (search for similar items in EconPapers)
JEL-codes: A10 D20 E40 E42 E44 G01 G10 G14 G21 G24 L20 P16 (search for similar items in EconPapers)
Date: 2011-09
New Economics Papers: this item is included in nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:33501

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