Financial Times (July 30)
2010/ 08/ 02 by jd in Global News
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
