"Who's in Charge of Global Finance?"

Michigan Law Authors
Publish Date
2014
Publication
Georgetown Journal of International Law
Publication Type
Journal Article
Abstract

The global financial crisis caused widespread harm not just to the financial system, but also to millions of households and businesses and to the global economy. The crisis revealed substantive, fundamental weaknesses in global financial regulation and raised serious questions about whether national regulators and the international financial regulatory system could ever be up to the task of overseeing global finance. This Article analyzes post-crisis reforms with two questions in mind: First, how can we build an effective international financial architecture with more than one architect? Second, can we build a system that is legitimate and accountable? The Article suggests areas for further substantive and procedural reform.

Full Text