Evidence receipt / belief
Published · transcript-backedRaghuram Rajan: belief
13 Mar 2019 Conversations with Tyler Raghuram Rajan on Understanding Community
“I think the recapitalization of the banks and increasing the capital requirements was generally a good thing.”
Source trail
Everything needed to verify it.
- Speaker
- Raghuram Rajan
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 13 Mar 2019
- Publisher
- Conversations with Tyler
Transcript context
…How much has the US actually fixed its financial system? Post 2008. Some. I think the recapitalization of the banks and increasing the capital requirements was generally a good thing. However, the banks have reduced the risks that they take. A lot of the risks have migrated into what we call the shadow financial system. And the worry is, we don’t fully understand that. Are they managing their risks appropriately? We have the same questions we had before the global financial crisis when everybody said, “Don’t worry, these are the smartest guys in the universe. They know how to manage their risks.” Well, there’s a lot of trust that the shadow financial system knows how to manage its risks, and I’m not sure we can be confident. So what do we need to do to address that?…
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