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Martin Wolf: Why Obama's Financial Reforms Won't Work

First Posted: 07/25/09 06:12 AM ET Updated: 05/25/11 02:30 PM ET

Obama

ft.com:

Proposals for reform of financial regulation are now everywhere. The most significant have come from the US, where President Barack Obama's administration last week put forward a comprehensive, albeit timid, set of ideas. But will such proposals make the system less crisis-prone? My answer is, no. The reason for my pessimism is that the crisis has exacerbated the sector's weaknesses. It is unlikely that envisaged reforms will offset this danger.

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Filed by Ryan McCarthy  |