Preventing the next big financial crisis
Shares in US banks have surged since Donald Trump won the presidential election. It's partly in expectation of his proposed bonfire of what he believes are rules and regulations that hamper business. But of course a lot of those rules were put in place after the last financial crisis, and their purpose was to stop banks ever again needing a bailout from the taxpayer. One man whose thinking may be in line with Mr Trump is Neel Kashkari, the head of the Minneapolis Federal Reserve. He wants to see a lot of the regulations that govern banks replaced by a huge increase in the cash they are obliged to hold in case everything goes wrong at once. The ÃÛÑ¿´«Ã½'s Alex Ritson found out more from Mr Kashkari.
(Picture: Neel Kashkari. Picture credit: Getty Images.)
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