Oireachtas Joint and Select Committees

Wednesday, 28 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

On page 4, Professor Kane states, "The goal of my testimony is to suggest how - by defining and sanctioning theft by safety net as a felony - governments can better align incentives of private risk managers, accountants, credit-rating firms, and government supervisors with those of ordinary citizens." Is it really possible to align the interests of, for example, hedge funds - which some people will describe as vulture funds looking for quick profits on the financial markets - with the interests of, as Professor Kane put it, ordinary citizens?

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