Paul Lachine

El error de regular el capital bancario

MEDFORD, MASSACHUSETTS – Imaginemos que los comentarios provocados por el desastre Hindenberg se refieren a los extinguidores y paracaídas que los dirigibles deben llevar a bordo en lugar de hablar de las fallas del diseño que podrían causar un incendio. Desafortunadamente, los debates actuales sobre la reforma de la banca tienen precisamente estas características.

Revertir la enorme automatización de la banca debe ser la principal prioridad de la reforma. En otros tiempos los banqueros debían conocer a cada cliente, y cada solicitud de préstamo debía analizarse por separado. Ahora, sin embargo, los bancos usan modelos conjurados por magos financieros remotos para producir productos de crédito masivos y una gama de productos derivados. La producción en masa favorece el crecimiento de megabancos, por lo que, a diferencia de los errores de juicio de las autoridades de crédito, los modelos de estos gigantes defectuosos han tenido consecuencias desastrosas.

Las propuestas radicales que ayudarían a restaurar un sistema más flexible, ofrecidas por personas como el gobernador del Banco de Inglaterra, Mervyn King, se han apagado debido a discusiones ruidosas sobre medidas que no sirven de nada para resolver los defectos fundamentales de la banca moderna.

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