Financial Times FT.com

Why we need to regulate the banks sooner, not later

By Kenneth Rogoff

Published: August 18 2009 20:11 | Last updated: August 18 2009 23:12

Pinn illustration

When in doubt, bail it out,” is the policy mantra 11 months after the September 2008 collapse of Lehman Brothers. With the global economy tentatively emerging from recession, and investors salivating over the remaining banks’ apparent return to profitability, some are beginning to ask: “Did we really need to suffer so much?”

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