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Fixing Out-Of-Control Banking Systems? — Brian Romanchuk

Summary:
This is just a short post-script to some points in the James Meadway article I discussed yesterday. What is to be done about financial sectors that are out-of-control, and endangering economic stability?... I would add one important thing that MMT contirubtes to this debate that Brian doesn't mention here. Warren Mosler has pounded on the need to regulate banks' asset side rather than their liability side as is current practice.Brian does mention that MMT economists have criticized current banking practice and have offered recommendations for reform based on Minsky. Warren, who formerly owned a small bank, has been out front on this with his recommendations, including proposals at his place.Bond Economics Fixing Out-Of-Control Banking Systems? Brian Romanchuk

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This is just a short post-script to some points in the James Meadway article I discussed yesterday. What is to be done about financial sectors that are out-of-control, and endangering economic stability?...
I would add one important thing that MMT contirubtes to this debate that Brian doesn't mention here. Warren Mosler has pounded on the need to regulate banks' asset side rather than their liability side as is current practice.

Brian does mention that MMT economists have criticized current banking practice and have offered recommendations for reform based on Minsky. Warren, who formerly owned a small bank, has been out front on this with his recommendations, including proposals at his place.

Bond Economics
Fixing Out-Of-Control Banking Systems?
Brian Romanchuk

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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