Why Target Big Banks?
The financial crisis held a lesson that many have ignored: it is the contagiousness of financial crises, not banks’ size, that matters. After all, any list conjured up in 2006 of institutions that were “too big to fail” would not have included Northern Rock, Bradford & Bingley, IKB, Bear Sterns, or even Lehman Brothers.
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LONDON – It seemed that a new model for global governance had been forged in the white heat of the financial crisis. But now that the ashes are cooling, different perspectives on bank regulation are emerging on either side of the Atlantic.