The world economy remains more or less motionless or even recedes six years after the financial meltdown, because the banking industry has not yet decided what’s best for its interests. Continue leveraging itself (borrowing) on central bank liquidity in a stagnating environment, or start deleveraging and send the world to another deep recession, if not […]
Who cares more about taxpayers? The US by being harsh on major banks or the EU still caressing them?
Filed Under: Economy, EUGlobe, Eurozone, Policy, USA, World Tagged With: Bank of America, Bank of International Settlements, Bank of New York Mellon, banks, Brussels, central banks, Citigroup, EU, Europe, Eurozone, financial bubble, financial leveraging, Goldman Sachs, IMF, JP Morgan, Lehman Brothers, loans, markets, Morgan Stanley, nonperforming loans, State Street Co, systemic banks, too big to fail, US, Washington, Wells Fargo
Basel III rules relaxed: Banks got it all but become more prone to crisis
The European Commission through the most competent lips of its member, Michel Barnier, responsible for Internal Market and Services rushed to endorse the new unbelievably generous concession to banks all over the developed world. This time it was the Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on […]