The Challenges of Supervisory Failure in Banking

There were just so many red flags, aggressive growth, very often a sign that problems might ensue. Incredible concentration in a particular industry as opposed to diversified sources of activities or diversified funding. That was true for all of the major banks that failed in 2008. It was true of the failed thrifts back in the 1980s. So again, there's just a lot of red flags. And we were talking about a large bank. You have to wonder why there wasn't more attention paid earlier.

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