Unfortunately, we’re all familiar with the phrase, “too big to fail.” In fact, we’ve all gotten a wake-up call about the consequences of mostly unregulated interconnectivity and globalization in the financial markets. It’s not just us anymore. It’s us and the European Union, Japan, China, South America and on. And it’s not just the pesky big banks we have to watch, it’s also the global insurance companies.
There are efforts underway to bring standards and monitoring to world financial markets. And, of course, when there are regulations in the offing, there are those that will look for ways to circumvent them. So, regulators can’t just make rules for one industry without thinking about the broader effects. Â
