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Banks must learn to say ‘no’

Restricting overreaching banks, not capital changes, will prevent crises

Children are told to “just say no” to drugs and teenagers hear it again about sex. Market price falls generally tell bankers to say “no” to diversification into products they don’t know or ridiculous acquisitions (and perhaps massive salary packages).

I hope that the children are listening, my guess is that the teenagers aren't, and we know that bankers just don't.

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