Before we can reform the financial system, we need to understand what banks do; or, better, what banks should do. This … will conclude with general recommendations for reform along Minskyan lines. -- Hyman Minsky ; banks and shadow banks …

resource.” Each of these motives indicates a different type of reform necessary to contain too-big-tofail policies. They are … system dominate current legislative proposals; these would strengthen supervision and regulation. Other kinds of reform …

reform. The outlines of Basel III have been announced, although some have already dismissed its reform agenda as being too … financial crisis even if it had been in place. The problem is that the architects of reform are working around the edges, taking … would not be impressed. Before we can reform the financial system, we need to understand what the financial system does - or …