As stated by Yves Smith on Naked Capitalism, the Geithner Doctrine is
Nothing must be done that will hurt the profits or reputation of any bank that is pretty big or well-connected.
The FDR Framework is the backbone for a 21st century financial system. Under this framework, governments ensure that every market participant has access to all the useful, relevant information in an appropriate, timely manner. Market participants have an incentive to analyze this data because they are responsible for all gains and losses.
Nothing must be done that will hurt the profits or reputation of any bank that is pretty big or well-connected.
No comments:
Post a Comment