Financial reforms have treated symptoms, not causes, says former senior US govt adviser

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“A lot of financial reforms have treated symptoms, not underlying causes” says Zoltan Pozsar at FT Camp Alphaville, a former senior advisor at the U.S. Treasury Department and now a director at Credit Suisse AG.

Search for yield is still dominant & cash pools are still around. Without addressing these drivers, how can we become responsible investors?

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