Banks Win 4-Year Delay as Basel Liquidity Rule Loosened

[sabaku_no_gaara]

http://www.bloomberg.com/news/2013-0...roup-deal.html


On one hand, yay, possible credit crunch averted, stocks rising for those with money in banks

on the other hand, after all the harsh language and public anger of a few years ago, and all the promisses of tough regulation, we are starting to loosen the proposed regulation allready? Even before it was really implemented?


Or am I too stupid to understand what's going on and can someone explain it to me?

[Adar]

It's EU standard operating procedure. First you put forth strict rules to get an agreement. Then you start loosing them up as you realize that the political price of keeping your promises are too high.

Exactly the same thing happened with the EU stability pact in 2003-2005.

[magpie]

Hmm, As the international finance companies run the show, One way or another.
I take anything politicians say about them with a pinch of salt.
They will never be regulated or subject to the law of the land as is the case with ordinary citizens.
Such is the way of the Global economy.

[Rijul.J.Ballal]

This^