1. Banks should only be allowed to lend directly to borrowers and then service and keep those loans on their own balance sheets.
2. Banks should not be allowed to have subsidiaries of any kind.
3. Banks should not be allowed to accept financial assets as collateral for loans.
4. Banks should not be allowed to lend off shore.
5. Banks should not be allowed to buy (or sell) credit default insurance.
6. Banks should not be allowed to engage in proprietary trading or any profit-making ventures beyond basic lending.
7. Abandon “too-big-to-fail” and “systemically important” doctrine in favor of a “too-big-to-save” and “systemically dangerous” approach.
Read more: 7 Ways to Really Take the Ax to Wall Street
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