"Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
Photo by Ákos Szabó
Photo by Ian Turnell
For market discipline to constrain risk effectively, financial institutions must be allowed to fail....
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