Sheila Bair Tells Us How the Financial System Should Work

Sheila Bair does a Q&A with herself:

1) Does anybody have a clear vision of the desirable financial system of the future?

Yes, me. It should be smaller, simpler, less leveraged and more focused on meeting the credit needs of the real economy. And oh yes, we should ban speculative use of credit default swaps from the face of the planet.

You had me at “less leveraged,” Sheila. Read the rest here.