2. During the global financial disaster, numerous banks collapsed, and private citizens lost much money. Problems arose largely due to the poor or unfitting regulation of the banking industry. In recent decades, however, an unrestricted global banking sector has produced several benefits. The soft restrictions on international financial flows gave firms access to low-cost capital. The free flow of capital also provided much-needed funding to governments and entrepreneurs in developing and poor countries. A liberated foreign currency market greatly facilitated international trade. Nations benefit vastly from inward capital flows as portfolio investments.

a. Given the pros and cons of the soft regulated global banking system, analyze how would you advise the legislator to effectively manage and control the flow of capital. (

b. Given the ethical framework. analyze the extent to which new regulations could be needed in the global banking sector any financial crisis and how it could develop the international Trade volume?