a system that would decide the safety and profitability of banks
Posted on 04/25/2010 5:10:12 PM PDT by Bigtigermike
The US is preparing to pivot from domestic regulatory reform to a push for a tough new international capital regime after the weekend’s G20 and International Monetary Fund meetings glossed over differences between leading economies.
Tim Geithner, US Treasury secretary, met Mario Draghi, chairman of the Financial Stability Board, on Sunday to discuss the contours of a system that would decide the safety and profitability of banks for decades to come and could eclipse the arguments over bank taxes and regulation.
One participant at a US Federal Reserve meeting this month to discuss the new regime said “full and frank” did not do justice to the furious response from some industry delegates.
The reaction from capital hawks was that a blunt backstop might be better than an overreliance on the sophistication of risk models and regulators. They also said banks would be given plenty of time to adjust to the new system, perhaps several years, to minimise the immediate impact on credit provision.
Technocrats said they were stepping up the pace of their work, drawing up impact assessments for new regimes. But they were under contradictory pressures, not only over content but also timing, with countries including France recommending a slower, more deliberative approach while the US urges more speed.
For all the technical work, there is an increasing belief that governments and central banks will supersede the Basel officials in the next few months and engage in contentious meetings over the summer.
(Excerpt) Read more at ft.com ...
This is a sensible reform, which renders all other regulation unnecessary. Put all assets on the balance sheet, and require sufficient capital to cover losses.
This is a massive move by the UN/Bilderberg/CFR/TC type transnational progressives (read, global Marxofascists) in their plans for control.
This is worse than Obamacare and yes it is a very out-in-the-open conspiracy.
Here is one kind of introduction to this attack upon American sovereignties and freedoms:
“Obamafinance - Palin: Institutionalizing Crony Capitalism, Soros: Go for it”
http://www.freerepublic.com/focus/f-news/2499998/posts
I’M KING OF THE WORLD.
BWAAA-HAAA-HAAA-HAAA-HAAA-HAAA-HAAA!!!!!
So, once the global-control freaks get control of the global financial system, they won't use it as a tool for "social engineering?"
And you expect people to believe that?
Seriously?
Check out "Proxy_User"'s weird sign-up date.
Do we now see the leftists that decry military police actions now supporting financial police actions?
Do we need permission from the world to regulate and protect our financial systems?
This seems like more of the 0zero self defeatist USA sucks the world hates us lets bend over policy to me...
Did you forget the sarcasm tag?
Regulation yes, but no doubt more importantly, it will require new international taxes.
They need to change the title!! its not the U.S. that wants this!! it’s the commie loving socialists new world order group!! that wants this!!
a system that would decide the safety and profitability of banks
I mean that having capital rules is a sensible reform, as opposed to the ridiculous rules proposed by the Democrats in Congress, such as limiting the pay of executives and prohibiting banks from engaging in proprietary trading.
Another step toward the World Government of the Antichrist.
You got it. I’ve been warning about this since 1980s.
Finally they are not hiding it... it’s a scandal of major proportions.
Welcome to the one world government with Obamasoros as King.
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