Speeches from Paul Tucker, former deputy governor of the Bank of England, rarely disappoint in terms of insight, clarity and the pinpointing of factors which others dare not identify.
His keynote address to a Finance Watch conference on June 1 was no exception.
The crux of the message is this.
Financial resolution policy and technological innovation are intimately connected because without a well structured resolution policy finance has a habit of morphing into a peculiar form of asymmetrically socialised capitalism. Read more