Banks' Risky Levels of Leverage is Like Pollution
发布时间 2010-10-12 23:33:58 来源
摘要
Research: Why Bank Equity Is Not Expensive - http://www.gsb.stanford.edu/news/research/admati_equity.html
Corporate finance expert Anat Admati explains the effect on the financial system of banks' excessive leverage. She compares the resulting risks from leverage-funding to pollution; the more "pollution" in the banking system, the more society suffers. And banks' complaint that "pollution" is costly shouldn't take them off the hook for decreasing this "pollution."
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