"Complex regulations or simple banks
As we restructure oversight of the financial system it’s important to think about the motivations of institutions… and ask if stability can be achieved by concentrating enormous power in the hands of a “systemic regulator”?
Or is stability achieved by simplifying the mandate of the institutions in our system?
Would returning to something along the lines embodied in the Glass Steagall Act be more effective? More stable?
Someone needs to map the quantity and severity of financial crisises with and without Glass Steagall… I think we know what the evidence would look like…