Author slams 'free market drivel' of bank apologists: Yves Smith profile

Profile: Yves Smith

Yves Smith: proponent of firmer banking regulation

Most of the books and reports seeking to identify the root causes of the global financial crisis have concentrated almost entirely on the recent past; tracing its origins to the early part of the last decade and the beginning of a prolonged period of low interest rates in the US and rapid expansion of the shadow banking system. Among the list of perpetrators, most fingers are pointed at greedy bankers and the ‘light touch’ regulation that allowed the greed to flourish.

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