Global banking regulation remains market-friendly post-2008 crisis, stifling transformative change.
The global banking regulations changed after the 2008 financial crisis to focus more on preventing risks in financial markets. The new Basel III framework was meant to shift from a market-focused approach to a risk-prevention approach, but it didn't fully succeed. This was because the people in charge of making the rules were still influenced by the old way of thinking. As a result, the changes made after the crisis were not as revolutionary as they could have been.