FEBlog dean Elmer Sterken: 'De Wit Committee' on the Financial Crisis is too political

"The start of a crisis is by definition unpredictable, and the consequences are no news at all", says prof.dr. Elmer Sterken in his new blog entry. "Still the 'De Wit Committee' investigates the causes of the financial crisis that started in 2008 and the political response of the Dutch government after the outbreak. The main focus is on the role of private banks, bank managers (bonuses) and bank supervision by the Dutch central bank. After a crisis a society wants to declare someone guilty: this time it will be the (central) bankers. But I even think that in some respect we are all guilty."