Nothing helps other populist quacks to surge, than allowing your own populist quacks free reigns.
Sir, you write “If mainstream politicians can show their policies work, unlike the quack remedies peddled by political insurgents, they have a chance of wooing voters back. If not, they will be eclipsed by today’s populists — or worse ones waiting in the wings.” “Waning co-operation will make the next financial crisis worse” September 14.
That is one hundred percent true. But the best way to fight what “quack remedies” are peddled out there, is to get rid of the quack remedies peddled by your own populists.
Such as that one marketed by the current populist bank regulators who insist they can make our bank systems safer with their risk weighted capital requirements for banks.
These only distort the allocation of credit, expelling true risk-taking into the shadows while dangerously building up especially large bank exposures against what’s especially perceived or decreed as safe, against especially little capital.
Have you FT done enough to expose that quackery? I certainly do not think so. Much the contrary, you seem to have set your mind on helping the regulators to cover up their mistakes.
@PerKurowski
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