CFA, revoke any certification given to anyone in the Basel Committee or the Financial Stability Board.
If a certified financial advisor was offering the same advice to a wealthy retiree and to a poor young professional, he would have his CFA certification immediately revoked.
Yet that is exactly what all in the Basel Committee and the Financial Stability Board are doing when regulating our banks and primarily serving the interest of soon retiring baby-boomers’ Après moi le déluge philosophy.
They require all our banks to act in the same way, concentrating on lending to what is perceived or decreed as “absolutely safe”, like lending to its sovereign or financing residential mortgages, while avoiding all of what is perceived as “risky”, like the lending to small and medium businesses and entrepreneurs.
They require all our banks to act in the same way, concentrating on lending to what is perceived or decreed as “absolutely safe”, like lending to its sovereign or financing residential mortgages, while avoiding all of what is perceived as “risky”, like the lending to small and medium businesses and entrepreneurs.
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