Paul Lachine

L’Erreur Capital(e) de la Régulation Bancaire

MEDFORD, MASSACHUSETTS – Imaginez si les discussions suscitées par le désastre de Hindenberg s’étaient centrées sur les extincteurs et les parachutes que les avions devraient transporter, au lieu des défauts de conception qui peuvent causer leur inflammation. Malheureusement, c’est exactement ce que les débats actuels sur la réforme du système bancaire sont en train de faire.

La première priorité des réformes devrait être de renverser le gigantisme et la robotisation du système bancaire. Jadis, les banquiers étaient sensés connaître chaque emprunteur et décidaient d’accorder un prêt au cas par cas. Aujourd’hui, par contre, les banques utilisent des modèles mis au point à distance par des magiciens de la finance, afin de produire du crédit en masse et un ensemble de produits dérivés. La production de masse favorise l’émergence de méga-banques, de sorte que, au contraire des erreurs de jugements des banquiers traditionnels, les modèles défectueux de ces monstres ont eu des conséquences désastreuses.

Plusieurs personnes, dont le Gouverneur de la Banque d’Angleterre Mervyn King, ont avancé des propositions radicales qui aideraient à restaurer un système plus résistant. Pourtant, ces propositions ont été couvertes par la discussion bruyante de mesures qui ne font rien pour solutionner les défauts fondamentaux du système bancaire moderne.

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