Can Financial Markets be Controlled?

The Global Financial Crisis overturned decades of received wisdom on how financial markets work, and how best to keep them in check. Since then a wave of reform and re-regulation has crashed over banks and markets. Financial firms are regulated as never before.

But have these measures been successful, and do they go far enough? In this smart new polemic, former central banker and financial regulator, Howard Davies, responds with a resounding ‘no’. The problems at the heart of the financial...