Professor Amar Bhide of the Fletcher School of Law and Diplomacy recently wrote a blog post about bank regulation and the failures of the American banking reforms for Project Syndicate. Project Syndicate is a source for op-ed commentaries from world leaders in every different field.
In the op-ed Professor Bhide writes:
Reversing the robotic gigantism of banking ought to be the top priority for reform. Bankers were once supposed to know every borrower, and to make case-by-case lending decisions. Now, however, banks use models conjured up by faraway financial wizards to mass-produce credit and a range of derivative products.
This is a familiar topic for Bhide. In 2010 he published A Call For Judgment: Sensible Finance for a Dynamic Recovery.