The Legacy of the Crisis

The banking system is at the heart of every market economy;where we're going to is a world where the banking system is slimmer,de-risked,and with less return on equity,Mohamed El-Erian believes.We are turning the banking system into a utility,because the public cannot accept privatizing gain,while socializing risk.When the tide comes down,it exposes good things that you want to buy,but you've shaken the trust of the retail side.It will take time to heal.We shouldn't expect a linear recovery;it's gonna be a bumpy recovery,Mr.El-Erian predicted.