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Archbishop-Elect of Canterbury: Virtue, Vice and Banks January 13, 2013

Posted by proeconomia in Main, Monetary policy, On the crisis, Opinion.
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An excellent article from a former executive, turned bishop and now having been elected the Archbishop of the Church of England. Read it here, its worth it. Here is a nice excerpt in favor of less complex regulation: “…the more complex one makes the regulation, the less likely it is to be adhered to. The head of a major bank whom I interviewed recently told me they had 3,500 compliance staff and 900 lawyers. Good luck with that!”.  There are other points well made in the article. The source is Bloomberg.

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