Wrong systemic incentives in the origin of the international financial crisis
Reform of regulation has to start by altering incentives, by Martin Wolf
Financial Times, June 24, 2009
The main reasons for the current international financial crisis can also be traced to the inherent systemic bias of the banking business, as Martin Wolf brilliantly tries in the column above. Don't forget to take a look at respective comments, and to leave your feedback in this or in the FT's own blog.In case you have some more interest and time on your hands, you may read further the paper mentioned by Wolf, "Regulating Bankers' Pay" by Lucian Bebchuk & Holger Spamann, both from Harvard Law School, you may dowload from SSRN.
posted by Carlos A. Páscoa Machado @ 5:51 AM
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