Chris Van Es

Neuregulierung des Finanzsektors und Demokratie

NEW YORK – Beinahe zwei Jahre nach der Pleite von Lehman Brothers und über drei Jahre nach dem Ausbruch der durch die Verfehlungen auf dem Finanzsektor verursachten globalen Rezession, haben sich die USA und Europa zu einer Reform der Finanzmarktregulierung durchgerungen. 

Vielleicht sollten wir die Erfolge im Regulierungsbereich sowohl in Europa als auch in den USA feiern. Schließlich besteht beinahe allgemeine Übereinstimmung, dass die Krise, vor der die Welt heute steht – und wahrscheinlich auch noch in den nächsten Jahren stehen wird - eine Folge der exzessiven Deregulierung ist, die unter Margret Thatcher und Ronald Reagan vor 30 Jahren ihren Ausgang nahm. Ungezügelte Märkte sind weder effizient noch stabil.  

Allerdings haben der Kampf – und sogar der Sieg – einen bitteren Nachgeschmack hinterlassen. Denn die meisten derjenigen, die diese Fehler zu verantworten haben  – die US-Notenbank Federal Reserve, das US-Finanzministerium, die Bank of England, die britische Finanzaufsicht, die Europäische Kommission, die Europäische Zentralbank oder auch einzelne Banken – räumen ihr Versagen keineswegs ein.

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