The Gameboy regulators of Basel

Looking at how they try to control for risk by appointing credit rating agencies as risk-surveyors and then concocting some risk-weights to determine the capital requirements, it should be clear that we have fallen into the hands of a first generation of Nintendo-Gameboy-players’ type of regulators who believe life, risk and who knows perhaps even love can be controlled by just pushing some buttons.

When is the world going to speak out and say that it has had enough of this infantile approach to bank regulation? If we don´t speak out we´re doomed.