Renowned economists call for more regulation in the banking industry Description / Introduction: Economists denounce risk taking practices in the financial sector and call for more regulation. So does UNI Finance. - Labour news from UNI global union - for trade unions in a global services economy. - Content (Everyone): In a series of articles published by the Financial Times (FT), critics – including Martin Wolf, chief economics commentator at the FT, and Raghuram Rajan, former chief economist at the International Monetary Fund – point the finger at what is going wrong in the banking industry. The underlying problem is, according to Martin Wolf, that while banks take high risks, it is the public sector that subsidises the risk-taking by giving them guarantees (such as lender-of-last resort facilities, formal and informal...
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