William O'Connell on the perils of weakening US bank regulators" (The Conversation)

William O'Connell has written a piece in The Conversation warning about the dangers of recent decisions to cut staff with the Federal Deposit Insurance Agency, the U.S. agency responsible for protecting deposits and administering bank insolvencies.

The April 14 piece by O'Connell, a postdoctoral research associate with the Center for Political Economy, is titled "Why weakening U.S. bank regulators could repeat the mistakes of the 2008 financial crisis."

O'Connell wrote, "Limiting the FDIC’s capacity to intervene would effectively return the U.S. to a pre-2008 world in which large banks operated with the expectation of public bailouts. This is a hazard made more dangerous by the fact that many of those banks are much larger and more interconnected than they were back then."