Andy Shi is the Deputy Managing Editor of ProMarket, where he helps manage production and development. He previously worked as the Editor for Graphika, a startup that investigates disinformation, and as a Research Associate at NORC and Harvard Business School. Andy received an MA in history from Columbia University and the London School of Economics and a BA in economics and political science from Skidmore College.
The subsidized emergency takeover of Credit Suisse by UBS brings the current global "too big to fail" regime into question. This column argues that an in-depth analysis of the global resolution framework by both regulators and academics is needed. The main question is whether a resolution of a global systemically important bank is indeed feasible in plausible scenarios. An affirmation would clearly be the best possible result of this analysis. However, if such a resolution proves not to be realistic, then there should be no hesitation to drastically reduce the global risks of such institutions via regulation of their business models.
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The University of Chicago Booth School of Business
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