Regarding “Let the Fed Administer an Antiviral Shot” (op-ed, March 16) by Kevin Warsh: The Federal Reserve’s most recent interest-rate cuts and quantitative easing repeat actions from this past crisis, demonstrating how little regulators learned from that experience. The risk-weighted capital standard that regulators insist is the best measure of bank soundness has both discouraged banks from holding commercial loans and weakened the industry. Risk-weighted capital standards for U.S. banks require that they allocate more of their own capital to fund loans than is required to fund nearly any of their other assets, e.g.,…



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