Sheila Blair Chair of the American FDIC (retail deposit guarantees) speaks clearly yet with words that are hardly reflective of US policy. The first task is to scrap the “too big to fail” doctrine. To do this, we need to fix weaknesses in our regulatory system, and achieve global reform for effective resolution processes when large firms fail. With these steps, we can foster real market discipline and make international cooperation more successful. Co-incidentally I watched the BBC World Debate earlier with an interesting group of contrasts (no video online yet) BBC World Debate – Global Financial Crisis: Can we … Continue reading Too Big to Fail and How Little the Concept is Misunderstood