“The Most Important, Least Sexy, Debate in Financial Reform,” Business Week

“This should be OK if something implodes in Ireland, London, or Japan, and the parent cleans up the mess,” Valladares says. “Let’s be big boys and girls; we’re capitalists, and that’s fine.” The trouble, she says, comes when really big, AIG-or-Lehman-size bets sour and threaten the stability of the bank and the financial system more broadly.