Bank Regulation versus An Effective Alternative
Reader comment on: Dimon's Annual Letter
Submitted by David Weinkrantz (United States), Apr 5, 2012 18:52
I suggest that much of banking law and banking regulation be replaced by a rule that in the event of a bank failure, the senior officers, directors and owners of the bank be jointly and severally liable for the banks debts down to their underwear.
This rule would protect the public interest. However, regulators would oppose such a rule because they would lose their livelihoods.
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