Those areas of the financial sector that have suffered the most reputational damage are the ones least subject to regulation and supervision: the derivatives market, hedge funds and private equity funds, and the ratings agencies. Voluntary codes of good conduct have been a dismal failure.
金融部门遭受最严重名誉损失的领域是那些监管最少的领域：衍生品市场，对冲基金和私募股权基金，以及评级机构。自愿的良好行为准则已经是一个令人沮丧的失败。我们急需全球适用的像WTO规则那样的最低监管标准。