Die Aufrüstung in der Finanzwirtschaft muss enden

CAMBRIDGE – Viele Menschen stellen sich die Frage, ob Regulierungsbeamte und Gesetzgeber eigentlich die Fehler im Finanzsystem behoben haben, die die Welt fast an den Rand einer zweiten großen Depression gebracht hätten. Die kurze Antwort lautet: Nein.

Zwar ist die Wahrscheinlichkeit einer unmittelbaren Wiederholung der finanziellen Kernschmelze von 2008 ist dadurch stark reduziert, dass sich die meisten Investoren, Regulierungsbeamten, Konsumenten und sogar Politiker an diese finanzielle Nahtoderfahrung noch eine Weile erinnern werden. Daher kann es noch eine Weile dauern, bis die Sorglosigkeit wieder voll zuschlägt.

Aber abgesehen davon hat sich fundamental wenig geändert. Die nach der Krise eingeführten Gesetze und Regulierungsmaßnahmen waren hauptsächlich Flickschusterei, um den Status Quo beibehalten zu können. Politiker und Regulierer haben weder den politischen Mut noch die intellektuelle Überzeugung, die für die Rückkehr zu einem viel klareren und ehrlicheren System erforderlich sind.

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