This research project aims to change the conventional wisdom about how global banks take and manage risks and generate ideas that are both innovative and useful to realistic thinking about policy.
In the long term, the most effective constraint on the financial sector is informed public opinion. Today, anyone proposing to end the regulation of pharmaceuticals or to suspend government supervision of nuclear power stations would not be taken seriously. Our democratic system allows the expression of all views, but we filter those views based on a collective mainstream assessment regarding which are sensible and which are not. The best defense against a massive financial crisis is a popular consensus that excessive global financial system risk is simply not acceptable. This project builds a research and analysis group on this topic with the goal of producing regular reports on global financial stability.
