Het schimmenspel van de grote banken

WASHINGTON, DC – Een van de grote mythes die door de grote banken in stand wordt gehouden is dat, als ze weer doeltreffend gereguleerd zouden worden, veel investeerders en financiële transacties zouden vluchten naar ‘schaduwbanken’.

Dat klinkt slecht. Alles dat zich in de schaduw beweegt moet wel een valse bedoeling hebben, mogelijk gevaarlijke gevolgen, of allebei. En de hele schimmigheid ervan impliceert dat er niets aan gedaan kan worden; wat zich daar ook bevindt moet wel buiten het bereik van regulering of effectieve supervisie liggen. Dus misschien zou het risico voor het financiële systeem groter worden, en niet kleiner, als we de zeer grote niet-schaduwbanken goed reguleren.

Voor zover de enge sprookjes. In realiteit zijn er drie ‘schaduw’ activiteiten, die allemaal duidelijk zijn, opereren in het zicht en die gecontroleerd zouden kunnen worden op een eerlijke en verantwoordelijke manier. Of we de politieke wil hebben om doeltreffende controles te implementeren is, zoals altijd, een andere vraag; grotendeels omdat de grote banken zeer machtig zijn en ze willen dat de schaduw zo schimmig blijft als hij nu is.

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