Bankers Must Wash Hands Before Returning to Work

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Bankers Must Wash Hands Before Returning to Work

Bankers Must Wash Hands Before Returning to Work

Great idea. But how many times must they have their hands dirty in order for the regulators to get them good? Pretty much any law you can think of that involves a banker, has been broken.

Bloomberg-

Here’s an idea for improving the regulation of banks: Treat them more like restaurants.

One of the great things about eating out in New York, where I work, is that you can go to the local health department’s website and get inspection information for each of the city’s 24,000 restaurants. So, for example, if you want to look up whether A+ Thai Place in Manhattan had rats during its last inspection, you can. (It did.) Eateries also must conspicuously post the grade they got (A+ Thai received a “C”) so every customer who walks in can see.

With banks, you can’t get report cards like this from regulators. And heaven forbid a U.S. lender ever wants to disclose its own supervisory rating to outsiders. The Federal Deposit Insurance Corp. has long said that is confidential information, the release of which can lead to criminal charges.

[BLOOMBERG]

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