Gaillard, Norbert; Michalek, Richard J. - In: The failure of financial regulation : why a major …, (pp. 111-151). 2019
This chapter argues that, since the 1980s, moral hazard has encouraged excessive indebtedness and contributed to greater leniency from regulators and financial gatekeepers towards systemic banks. Examining the rise of the “too big to fail” (TBTF) banking behemoths, we question how moral...
