Why Big Banks Will Get Bigger
From banks’ perspective, the most obvious lesson of the financial crisis was the need for a strong national government to bear the potential costs of a rescue. It is no longer best to be where the most favorable regulatory regime prevails, but to be where the state has the deepest pockets.
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FLORENCE – Severe banking crises bring painful and long-lasting disruptions. But they also lead to surprises. The lessons learned in the immediate aftermath bear little relationship to the eventual outcome. There are immediate and obvious answers to the question of who was to blame, but they rarely correspond with the new shape of the financial landscape that ultimately emerges.