There's no doubt Wall Street's over-leveraged risk-taking was a key cause of the financial crisis. Many critics charge there has been little or no accountability of the financial community. And yet, will putting irresponsible bankers in jail do any good?
When you stop to think about it, its more than just banks. There are also insurance companies, hedge funds; we have a whole bunch of different animals out there right now. And the problem is that we don’t even know what they’re doing. Forget regulation, we don’t even have the monitoring. We can’t even see it.
Parag Khanna takes on this hot topic in his Global Roundtable series.
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