Every January, central bankers from the U.S. and Europe meet to discuss the financial industry's issues and problems.
This year's meeting in Basel is especially unique in that it takes place in a post-crisis setting. To emphasize its importance, chief executive bankers from JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Credit Suisse (NYSE: CS), UBS (NYSE: UBS) and Deutsche Bank (NYSE: DB) have been invited. The presence of this wide array of key executives underscores the importance and need to hammer out guidelines for central bankers in the U.S. and Europe.
The Basel Committee on Banking Supervision, which sets world banking regulations, has signalled plans to encourage banks to hold greater capital assets in the future and to make provisions for future bad debts throughout the economic cycle. They are also working on guidelines to ensure that banks hold greater liquidity reserves than they do now.
What is your opinion on these guidelines? Is it too little, too late?
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Reader Comments (Page 1 of 1)
1-11-2009 @ 10:41PM
Roger said...
Things are tough all over!
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1-12-2009 @ 12:50AM
Brutal said...
There is only one thing that will help the people ... for the economy to come back and grow. There is only one thing that will achieve that ... for faith and confidence in the system to be restored. There is only one thing that will do that ... those responsible must pay in blood. First, take Barney Frank, Chris Dodd, and those who ran Fannie and Freddie ... tie them to a stake in front of the Capitol and burn them. Then go get every banker and mortgage broker who took advantage of the loose money situation to enrich themselves by writing bad loans ... arrest them, indict them, sieze all their assets, put their families on the street, put them on trial, convict them, and send them to prison for 30 years. Once the people see justice done, their faith and confidence will return and so will the economy. Nothing else is going to work. All this bail out crap is like throwing gasoline on a fire.
1-22-2009 @ 6:04PM
Steve said...
I agree with Brutal, but you need to add drawing and quartering Cuomo and Martinez of HUD; execution of the FASB and IASB leadership that introduced Mark-to-market both in the US and internationally; and finally, impeach the rest of congress that is alive after Brutal's cleansing--and fire the leadership of the SEC as well--who promoted a virtual a monopoly in credit rating agencies.
Toss in the execution of Bernanke and Greenspan and disolution of the FRB and FOMC, 'just to be sure'.