Why are U.S. bank regulators so terrible at ... regulating? Author Nick Dunbar tells Felix Salmon why it is so hard to regulate the financial system, especially now.
Mining Felix salmon I'm here with nick -- the greatest or wrong planet you've written this -- the bills derivative which is the single best but it about movement right ever. -- -- And for both ends up having written if that you -- to some -- to Washington where you -- -- regulators yours playing. Selling them. How hard it's going. You printed. Exactly like house stop them from doing it again now I mean this book has loosened -- and notably about FSA in annual living in goals about the New York fed can help him beat -- -- Time they were and in this case. And regulate. Authorities story about highly they would very easy on these banks and even people in the Washington side effect tri city tighten up up things but to watch. The problem is is that. Did -- what he's done by. That's Tucker mechanical look back on this tour it's obvious signs of on this team these devices a field day people would say Jerry Kelly and the US -- challenge that is my team says helpful. -- and they didn't this was one of the big reasons why the financial crisis was as bad as. Tend to be obstinate they just missed it billions of Nazi ideas in the hopefuls have. Nazis. Is. Any reason to believe that things -- going to change things can be different was part of the intention of the local and local rules that say they can't be that stuff. And the -- is -- to stop them from doing it what to use -- Johnson the old rule is actually have an -- I'm. Reasoned optimistic about it it's cool to play for the moment to happen is the banking industry has pushed through those exceptions and some really. Amazing ones like -- in his office now vPro is single handedly responsible for bringing down and it. Back kind of bet is still allowed under the all funny yeah its. You don't really you. Giving me a huge amount of confidence is that if you can have a lot of effect but at least we haven't that the conversation people like satellite channels and a monthly. All of that -- the -- -- Siberia they carried three can you point to a tough. Bank regulate and anywhere in the world that the US. Regulators -- maybe try to think about emulating they tend to be like thanks but Nordic Countries. I think this is a great idea we should take -- -- regulated and ship them off to help things. And -- reminded -- it. Give that -- that won't play as an owner of fun. They've done thank agreements and everybody read this book look.