Making Banking Boring Again: Adequate Reserves and They Hold the Risk - Robert Kuttner

The transcript discusses the differences between banking and insurance, highlighting how insurance regulation, established in the 19th century, requires companies to maintain adequate reserves and prohibits risk transfer to prevent moral hazards. It suggests that applying similar principles to banking could prevent financial crises. The text also critiques the complexity of modern finance, emphasizing the need for simplification to restore banking's traditional role in the economy.

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