, Columnist
Shadow Banking Is Getting Bigger Without Getting Better
The sector's success against traditional banks is about regulatory arbitrage, according to a new story.
Shadow benefits.
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Taxi companies that compete with Uber and media companies that are up against Facebook know it: In a rivalry between regulated and unregulated firms, the latter have an unfair advantage. It also applies to banks, which spent the past ten years losing market share to companies that regulators ignored.