NY Fed’s Sack warns of excessive reforms
Brian Sack, the head of the New York Federal Reserve's markets desk, has warned on the risks of overly swift reform.
In a speech to the ACI 2010 World Congress in Sydney last Friday, Sack drew on some lessons from the performance of US financial markets during the crisis and discussed some of the changes that may occur as the US migrates to what he described as "a more stable and effective financial system."
Sack noted that in the build-up to the crisis, the shadow banking system grew rapidly
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