Nobel Laureate Jean Tirole Calls for Tough Rules for Banks

Jean Tirole, winner of the 2014 Nobel Prize in Economic Sciences, said banks that benefit from government support should face tough regulation.

“We need strong rules that are going to prevent banks from gambling with taxpayers’ money,” Tirole, an economics professor at the University of Toulouse, said in an interview with Erik Schatzker on Bloomberg Television today. “If they are to be bailed out, they have to be regulated.”