Financial reform’s breakthrough year

The need for banks to finance themselves with more equity and less debt will come into focus in 2013.

Here is an odd prediction for the coming year: 2013 will be a watershed for financial reform. True, while the global financial crisis erupted more than four years ago, and the Dodd-Frank financial reforms were adopted in the United States back in 2010, not much has changed about how Wall Street operates – except that the large firms have become bigger and more powerful. Yet there are reasons to expect real progress in the new year.

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