Former Treasury Secretary Paulson: The World should prepare for a new financial crisis

Zero Hedge Watch

Former Treasury Secretary Paulson: The World should prepare for a new financial crisis. The World economy is still recovering from the devastating financial crisis five years ago. Henry Paulson, the Treasury Secretary from that time, says the World should be prepared for it to happen again. He thinks that banks are still too-big-to-fail and that the shadow banking still poses a serious risk. He believes that there need to be stricter capital and liquidity requirements, especially for the larger banks or another crash is likely. James Gorman, the CEO of Morgan Stanley, disagrees. He said that banks are taking a much better approach these days and the probability of another financial crisis in our lifetimes is close to zero. (VIEW LINK)


About this contributor

Zero Hedge Watch

Zero Hedge Watch

Publisher, Zero Hedge

The Zero Hedge Watch feed provides a summary and link to a selection of articles from the Zero Hedge website

Expertise

No areas of expertise

data banks usa financial crisis henry paulson

Comments

Please sign in to comment on this wire.