The key is people - not the systems. The qualities of regulators and supervisors will be critical in mitigating future bank crises, says Steven I Davis.
Talk to a banker these days and he will bore you with complaints about more, and increasingly intrusive, regulation. But sooner or later the conversation will turn to effectiveness. Governments and regulators have had a field day in introducing new rules. But how effective will the supervisors be in avoiding the next systemic crisis?
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