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January 23, 2014

At Davos, Debate on Whether Banks Have Learned Their Lessons

“DAVOS, Switzerland — Paul Singer, the founder of the hedge fund Elliott Management, said on Wednesday that he remained skeptical that the financial markets were safer despite the changes enacted in the banking industry and by regulators after the financial crisis.

“As part of a debate on the postcrisis financial system at the World Economic Forum, Mr. Singer said that banks remained highly leveraged and that the buying of debt by central banks had distorted the prices of stocks and bonds.

“He also said he disagreed with claims that banks “unquestionably understand” the potential risks on their balance sheets.”

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