Money to the rescue
The award reflects the consolidation of conventional wisdom in favour of backing systemically vital banks that are ‘too big to fail’. What we should study in more depth, though, is what this does to incentives and the challenge of withdrawing crisis support
The award reflects the consolidation of conventional wisdom in favour of backing systemically vital banks that are ‘too big to fail’. What we should study in more depth, though, is what this does to incentives and the challenge of withdrawing crisis support