Wall Street Journal (August 1)
The Wall Street Journal concludes “the DPJ’s victory was a false dawn.” The party in power has changed, but Japan remains stuck “with an ineffective government.” The Journal is convinced the DPJ may not be around for long because it is “doomed to fail.”
The Wall Street Journal concludes “the DPJ’s victory was a false dawn.” The party in power has changed, but Japan remains stuck “with an ineffective government.” The Journal is convinced the DPJ may not be around for long because it is “doomed to fail.” \
Financial Times (July 30)
Columnist John Gapper notes that three years ago the British banking system started rumbling with worries over Northern Rock. Then two years ago, “Wall Street went into spasm.” What’s changed since the banking crisis? Not much. Rather than coordinated international measures, “the reforms are not only inconsistent but–particularly in the case of the BIS [the Bank for International Settlements, which delayed implementation of stricter liquidity rules for eight years]–have a lowest common denominator feel.” As a result, bankers can enjoy their summer holidays, but “the rest of us cannot relax so easily.”
Tags: Bank reform, Northern Rock, Wall Street
