Wednesday, January 26, 2011

Bankers In Davos Make Case For Being Complete Idiots

"For example, the bankers argued that the so-called Basel III rules might encourage banks to load up on sovereign bonds, even though recent experience has shown that government debt is more risky than it used to be. Ultimately the overall economy will suffer, they said."
Bankers say that new rules will allow them to make old mistakes, despite having the experience. Genius.

Why not run your banks with proven risk analysis and competent management?

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