Wednesday, November 18, 2015
Yes! I have over the last 18 years written more than 3.000 comments, articles, blog-posts, and letters to the editor, about how flawed I know the portfolio invariant credit risk weighted capital requirements for banks are. And I won’t change my mind or change the subject. And so in Winston Churchill’s words I am a fanatic… I would say a really obsessive fanatic.
But, on the other hand, the silence on this problem by thousand of experts is equivalent to billions of comments, articles, blog-posts and letters to the editor from the opposite side; and so I am not sure about who is more obsessively fanatic, they or little me.
And of course, when compared to those statist regulators who came up with that crazy surreal nonsense of a zero percent risk weighting for the sovereign and a 100 percent risk weighting of those citizens the sovereign depends upon, I am just fanatic obsessive chicken shit.