Have Post-Crisis Changes to Financial Regulation Been Sufficient?

Bill presented his comments on a panel at the end of a meeting (August 30-31) in Reykjavik, Iceland, which looked at “The 2008 Global Financial Crisis in Retrospect”. He agreed that much progress has been made in regulating the financial sector, but also drew attention to many remaining shortcomings. The fact that all piecemeal regulatory changes invite evasion, and then still another regulatory response, raises questions as to whether still more radical change to our current financial and monetary system is not required.