Fixing things?

Escrito el 24 febrero 2009 por Francisco López Lubián en General

Since 2008 was the year of breaking rules and financial models, 2009 should be the year of re-regulation and starting fixing problems.

This is the aim of a new report issued by The Group of Thirty: «Financial Reform: A Framework for Financial Stability«. The document is interesting not only because of the authors -a group of notorious former big bosses, including Paul Volcker, from then Federal Reserve, or Ernest Stern, from the World Bank-, but also for its 18 specific policy recommendations.

I strongly recommend reading this report: it summarizes very concrete guidelines and action plans, from a macro and micro perspective, to financial and non-financial entities and dealing with the main topics (transparency, risk management, regulation, restoring confidence in the markets).

Let´s not forget that to manage a problem we have to understand the problem. This document is good step towards understanding the present situation.  


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