The overwhelming majority of private credit creation is done by a tight-knit corporate oligarchy—the key cells in Shin’s interlocking matrix. At a global level twenty to thirty banks matter. Allowing for nationally significant banks, the number worldwide is perhaps a hundred big financial firms. Techniques for identifying and monitoring the so-called systemically important financial institutions (SIFI)—known as macroprudential supervision—are among the major governmental innovations of the crisis and its aftermath. Those banks and the people who
New corporate economics
The overwhelming majority of private credit creation is done by a tight-knit corporate oligarchy—the key cells in Shin’s interlocking matrix. At a global level twenty to thirty banks matter. Allowing for nationally significant banks, the number worldwide is perhaps a hundred big financial firms. Techniques for identifying and monitoring the so-called systemically important financial institutions (SIFI)—known as macroprudential supervision—are among the major governmental innovations of the crisis and its aftermath. Those banks and the people who
