Banks have a chance to right the wrongs of the last financial crisis

When the authorities designed new rules after the financial crisis their goal was to ensure that the damage caused to people’s lives from the near collapse of the banking system did not happen again.

The policymakers’ big fear was that people sitting in their seat when another crisis hit would lack their battle scars and so might give in to lobbying to relax the rules, not treat early warnings seriously or move swiftly to put out fires.

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