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Pay, Risk And Stewardship: Private Sector Architecture For Future Capital Markets, Mariana Pargendler
Pay, Risk And Stewardship: Private Sector Architecture For Future Capital Markets, Mariana Pargendler
Ira M. Millstein Center for Global Markets and Corporate Ownership
The recent financial crisis revealed a massive failure of institutions that populate the world’s capital markets. Banks, investors, ratings agencies, regulators and numerous other players demonstrated that confidence in market responses was misplaced. The loss of faith in capital market institutions has represented a significant hurdle to recovery as financial institutions continue to be wary of one another, and the public is wary of all of them.
Restoring trust in the system requires two distinct pillars of reform. The first pillar, reform of the financial regulatory system, both nationally and globally, has received most of the attention so far. Many …