BMO Professor vs. Bank Regulation
Last week, the C. D. Howe Institute was out with an op-ed contending that Canadian household debt is not worth worrying too much about: â€œThere does not seem to be a strong case for restrictive regulation of consumer credit products, such as tight caps on interest rates.â€
The C. D. Howe Institute arguing for looser financial regulation is nothing new. On the eve of the global financial crisis, it released a paper presenting more securitization as the antidote to financial risk.
But Andrew Hepburn draws my attention to the byline under last weekâ€™s op-ed: â€œJim MacGee is a Bank of Montreal Professor and Associate Professor of Economics at the University of Western Ontario.â€