Michael Stephens — The Missing Wall Street Debate

This issue of complexity isn’t just a challenge for the press. It’s also a public policy problem. Jan Kregel argues that the more recent JPMorgan and LIBOR scandals demonstrate that the financial conglomerates involved are “too big to manage” and too big to regulate effectively. This isn’t a fact of nature. This is the financial system we have built. Whether we’re able to make informed public choices about the future of financial regulation is also bound up with the question of whether we will have a financial system whose operations can be readily supervised and understood.

Multiplier Effect
The Missing Wall Street Debate
Michael Stephens