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The Answers: The Global Economy by Jeremy Kourdi

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SLOW AND PATCHY REFORM OF FINANCIAL REGULATIONS

“The easiest way to rob a bank is to own one.”

Old saying in the financial circles

We should not be angry about the financial industry under normal circumstances. Most of us have benefited from the ability to take a loan and buy something that increases our standard of living. Banks take the money from those who save and allocate it in the form of loans to those who need it. There is nothing wrong with this. In fact, the success of such financial intermediation has been one of the principal pillars of economic growth over the last couple of centuries and has changed the face of Earth. It enables businesses to invest upfront (against future income) which drives employment, private incomes and the ...

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