Via FT.com / Columnists / Martin Wolf – The cautious approach to fixing banks will not work:
With one bound the banks are free, or so it seems. Already, the panic of the autumn of 2008 is fading. The period within which lessons can be learnt and changes made is closing. Yet without radical changes, another crisis is certain. It may not even be that long delayed.
…
With their current capital structure, big financial institutions are a licence to gamble taxpayers’ money
