US banking authorities must impose enhanced market discipline on larger banks
William Isaac, former chairman of FDIC discusses how US financial regulators failed to perform the very roles they were created for in recent times.
Chairman of the Federal Deposit Insurance Corporation (FDIC) in the 1980s, William Issac presided over one of the worst banking system meltdowns in the history of the US. He believes that the conditions were much worse in that crisis than in 2008, yet there was less damage to the banking system and economy then.
In a wide-ranging interview with The Asian Banker, Isaac offered up what he sees as a misdiagnosis of the cause of the crisis and puts the blame squarely on regulators that had failed to perform the very roles that they were created to perform. He believes that the regulatory…
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, Risk and Regulation
Keywords: William Isaac
, Dodd-Frank Act
, Systemic Risk