As politicians and pundits debate what regulations are needed to fix the financial industry, I want to draw attention to a neglected issue: an important factor in the stability of the financial sector is its degree of globalization.
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To fix the banks, globalize them
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As politicians and pundits debate what regulations are needed to fix the financial industry, I want to draw attention to a neglected issue: an important factor in the stability of the financial sector is its degree of globalization.