banks to comply with the same capital standards as U.S. global financial system. While the EU criticized the Fed for a rule that will impact a few large European banks, the wall street Journal argued that the vote “could be a race to the top of the regulatory tree,” with the …
More Wisdom from David Cay Johnston on Flawed Economic Theory
Some More Wisdom from David Cay Johnston on Flawed Economic Theory : Not every opportunity to profit because of above-market prices is filled by a competitor. Indeed, in my books I have shown how rules discourage this in many markets. In some markets, notably electricity, the rules tend to …