From The Big Money comes a prescription for American banks, now that the federal government is taking an ownership stake in so many. Edward Hadas writes:

[G]o slow on innovation. A new pharmaceutical can't be sold until it is demonstrated to be both safe and effective. New financial products should be put through roughly similar paces -- consideration of the possible economic advantage, analysis of what could go wrong, small trials to see whether the theoretical analysis works in the real world.

Anyone else have a hard time imagining Wall Street really, truly slowing down for that?

categories: Understanding The Crisis

11:07 - October 21, 2008

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