The Bankrupt Theology of Financial Deregulation
The IMF is, or should be, the world's financial watchdog, and many believe that it failed to foresee the recent crisis because it was distracted or looking in the wrong places. But the real problem is that the IMF was too ideologically blinkered to be able to interpret the evidence sitting right under its nose.
https://prosyn.org/c4D7NF4
GENEVA – Now that the global financial crisis is abating, it is time to take stock of our mistakes and ensure that they are not repeated. Beyond regulatory improvements, preventing payment incentives from rewarding reckless risk taking, and building Chinese walls between originators of securities and rating agencies, we need to discover what made this crisis so difficult to predict.