Preventing Banking Crises in the Future
Lessons from Past Mistakes
By George G. Kaufman
Instability is not an inherent feature of the banking system, but is a consequence of mispriced deposit insurance and other government policies. To foster a truly safe and sound banking system, policymakers must better understand the business of banking and the real causes and effects, as opposed to the popular mythology, of bank failures.
|Other Independent Review articles by George G. Kaufman|
|Winter 2002/03||What Is Systemic Risk, and Do Bank Regulators Retard or Contribute to It?|