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If It Ain't Broke, Don't Fix It, Kathryn Judge
If It Ain't Broke, Don't Fix It, Kathryn Judge
Faculty Scholarship
A prescription is only as good as the diagnosis on which it is based. This is just as true in finance as it is in medicine. And, in Hal Scott's assessment, the reforms adopted in the wake of the 2007-09 financial crisis ("Crisis") are based on a fundamental misunderstanding of the reasons for that crisis. The future is accordingly bleak.