‘Fault lines’ may be re-emerging, warns Bini Smaghi
Societe Generale chairman says supervisors should not rest easy
Regulation may be tougher, but it is not obvious that we are living in a safer period for financial stability, Lorenzo Bini Smaghi told a conference at the Bank for International Settlements on September 19.
The Societe Generale chairman and former central banker cited Raghuram Rajan’s book Fault Lines, which he viewed as “one of the most thorough analyses” of the 2008 crisis, in warning that many danger signs are reappearing.
Bini Smaghi said many countries have seen a “substantial increase
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