The best is enemy of the good.
The profoundest truths are paradoxical.
Tuesday, December 31, 2013
In Financial Regulation, The Good Guys Are Winning
"JPMorgan's failure also gave new energy to, and a clear target for, the stalled Volcker Rule, which was designed to split hedge funds from banks. Financial reform benefitted as well from engaged activism that proposed tougher reforms, which pressured regulators to hit the mark and kept the financial industry on the defensive. This is clearest in the case of capital requirements, which require banks to hold a set percentage of their assets and which the finance industry fights consistently." Mike Konczal in The New Republic.