Too Little Too Late: Greenspan Says Banks Must Set Aside More Cash

alangreenspan closeup tbi

Alan Greenspan announced to a Mumbai conference that US banks still need to have more capital set aside as protection against losses.

Reuters: “I think even in non-euphoria, non-crisis times, we need to have a larger buffer than we currently have,” he said.

Higher capital requirements mean lower leverage for banks. It’s great to hear such prudence now, but too bad it took so long.

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