L’Anno di Svolta Per la Riforma Finanziaria

ZANZIBAR – Ecco una strana previsione per il prossimo anno: il 2013 sarà un punto di svolta per la riforma finanziaria. È vero, sebbene la crisi finanziaria globale sia esplosa più di quattro anni fa, e negli Stati Uniti già nel 2010 siano state adottate le riforme del settore previste dalla legge Dodd-Frank, non molto è cambiato nel funzionamento di Wall Street - tranne il fatto che le grandi imprese sono diventate più grandi e potenti. Eppure ci sono buone ragioni per aspettarsi progressi reali nel prossimo anno.

La Federal Reserve sta finalmente modificando il proprio orientamento. In una serie di interventi importanti di questo autunno, il governatore Dan Tarullo ha fatto presente che il problema di istituzioni finanziarie "too-big-to-fail" continua a permanere. È necessario assumere ulteriori misure per ridurre il livello di rischio di sistema - inclusa la limitazione della dimensione delle nostre maggiori banche. Fonti giornalistiche indicano che la Fed ha già iniziato ad impedire alcune fusioni bancarie.

Allo stesso tempo, la statunitense Federal Deposit Insurance Corporation è diventata una roccaforte del pensiero sensibile riguardo ai problemi del settore finanziario. In parte, ciò è dovuto al fatto la FDIC è responsabile del rimettere le cose in ordine quando le imprese del settore falliscono, per cui i suoi dirigenti sono fortemente incentivati a proteggere i fondi della Cassa impedendo che i rischi vadano fuori controllo. La FDIC mostra di avere leadership intellettuale e capacità organizzative – i discorsi del Vice Presidente Tom Hoenig sono una lettura obbligata.

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