Posted on 05/01/2010 8:21:36 AM PDT by GregNH
The President of the European Central Bank, Jean-Claude Trichet, told Forbes that global governance is extremely necessary if we want to prevent another financial crisis. In his prepared printed and spoken remarks to the Council on Foreign Relations, Trichet emphasized that politicians, economists, and financiers must work across the Atlantic and collaborate on methods to create an international set of standards. It is his belief that through global governance, the resiliency of the global financial system can be assured, noting that ultimately it was governments’ use of taxpayer’s money, equivalent to around 25% of GDP on both sides of the Atlantic, that prevented another catastrophic great depression from occurring. With the backdrop of a U.S. financial regulation bill being stuck in the Senate, he argued three main points in support of creating internationally agreed rules.
(Excerpt) Read more at blogs.forbes.com ...
Here we go....this is bad, very bad business.
In a very simple nutshell, didnt they not enforce current laws and make fiancial institutions do risky things? What happens when that goes global?
Sure, Global Governance with him in charge!
Yep......looks like we few here in america who take seriously the declaration of INDEPENDENCE are alone again....time to saddle up and make our stand...GO SARAH !
Let the chips fall where they may.
Actually, it was government's use of taxpayer's remaining goodwill that created catastrophic conditions.
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