The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
华盛顿—现在,人们几乎形成了一致,认为美国2010年实施的多德-弗兰克(Dodd-Frank)金融改革立法并没有结束与某些银行“太大而不能倒”有关的问题。但是,在建议方案方面并没有类似的一致。相反,金融改革已成为11月总统和国会选举的一个关键问题。
那么,对于如何减少与非常庞大的金融企业有关的风险这个问题,谁的计划更加可靠和可行?民主党有一个一致的可执行战略,肯定可以在现状的基础上有所改善。不幸的是,共和党的方案对于美国(和全世界)来说是比2008年还要糟糕的灾难。
民主党方面,希拉里·克林顿的竞选文宣和党的政纲提出了一项具体计划捍卫多德-弗兰克立法,并在敦促大企业减少复杂性并(如有必要)减小规模方面更进了一步。银行还必须以更稳妥的方式为自己融资。如果克林顿获胜,她在这个方向上的工作推进将赢得国会民主党的强烈支持——包括她的民主党提名对手伯尼·桑德斯(Bernie Sanders)及其参议员同事伊丽莎白·沃伦(Elizabeth Warren)。
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