You want it darker… bank regulators killed the flame
The willingness to take risks was the flame that ignited the Western world’ free markets’ economic growth.
If I had had Leonard Cohen’s attention, I would have explained to him what the Basel Committee’s risk weighted bank capital/equity requirements, did to that flame.
If hearing it, he might have added what’s below to his “You want it darker”, though surely with much better words,
If you’re the regulator, I'm out of the game
Deciding what banks need, kids will be broken and lame
If thine is the glory, theirs must be the shame
You want it darker
You killed the flame
It's written in regulations
It's not some nonsense claim
Basel Committee told banks
Keep refinancing our safer present
Don’t finance their riskier future
And that’s what our children got
You want it darker
They killed the flame
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