How To: 'Socialized Banking'

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?



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