The minimum capital requirements for banks based on credit rating of risks, introduces an formal regulatory risk adversion against “risks of default” that will set us up to all other type of much more dangerous risks.
Who dares to tell me that avoiding default risks is all financing is about?
From now on are the bailouts we going to see only to be the result of faultily measured risks and not of those risks that society incurs to move it forward?
Currently our biggest problem is that most have completely bought the silly one track-mind agenda of our financial regulators… the Basel wimps!
Financial regulation is much too serious to be left in the hands of the members of the mutual admiration club of financial regulators.
If we are going to waste taxpayer’s money let us at least assure the crisis has been worth it. Never in life have I seen such a useless crisis than the current one that has only produced millions of people to move in into their homes only to be evicted a couple of months and many tears later.