When the Group of 20 meets in Pittsburgh this week, a focus will be a push for banks to keep more reserves to prevent another crash. Former Deputy Comptroller of the Currency Bob Bench, now a senior fellow at the BU School of Law’s Morin Center for Banking and Financial Law, says this is necessary because the invisible hand of the marketplace has failed.
“The Reagan/Thatcher period of deregulation is over. It is in the best interest of the financial institutions themselves to fortify their financial conditions so as to restore trust in the marketplace.”
Contact Bob Bench, 617-353-5428, email@example.com