The global financial crisis has inspired little meaningful reform, says WEF founder

The global financial crisis has inspired little meaningful reform, says WEF founder

The global financial crisis has inspired little meaningful reform, says WEF founder

The man behind the annual gathering of elites in the Swiss mountain retreat of Davos believes the financial crisis of 2008 has done little to inspire meaningful change in the banking industry.

“Unfortunately, I have to say that we haven’t learned too much,” Klaus Schwab, founder of the World Economic Forum (WEF), told CNBC on Friday.

Most analysts believe the global banking system is in a much safer position than it was before Lehman Brothers collapsed 10 years ago. That’s because, amid a broad push for stronger regulation, lenders have been forced to increase their capital ratios to better protect themselves from external shocks.

 

Read More: https://www.cnbc.com/2018/09/14/the-global-financial-crisis-has-inspired-little-meaningful-reformsays-wef-founder.html