Banking Needs an Appetite for Risk
Douglas Flint, the chairman of HSBC Holdings, Europe's biggest bank by market value, says excessive regulation is making bankers too risk-averse for their own, and their clients', good. There's nothing new about bankers squirming under regulatory pressure, but Flint's warning carries extra heft because of who he is -- and because of an unpleasant corollary to his observation: Growing risks outside the banking system.
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