Friday, February 15, 2013

How many young in Europe are unemployed only because of YOU bank regulators? MILLIONS!

YOU, European bank regulators decided that banks were allowed to hold extremely little capital when lending to those ex ante perceived as absolutely not risky, “The Infallible”, and this discriminates de facto horrendously against the bank borrowings of those perceived as “The Risky”, the unrated or not superbly rated, the small and medium businesses and entrepreneurs.

And so YOU, with that sapped the vitality supplied by those actors who, operating on the margins of the real economy, makes us move forward, so that we do not stall and fall. 

And so YOU, European bank regulators, have you any idea of how many of our young ones are without a job, and without expectations of a job, and therefore without expectations of being able to form a family only because of your regulations? 

I tell you: “Millions!” Shame on YOU! 

Sincerely if the millions of unemployed European youth really came to know about your stupidity which is blocking so much of their future, I would not like to be in your shoes 

It is high time for YOU, the Basel Committee and the Financial Stability Board, to lower that baby-boomer keep-us-safe-for-now-and-après-nous-le-deluge flag you fly. Have you all forgotten that Europe did not become what it is by avoiding risks?

PS. And by the way it was YOU who caused the current crisis by giving banks so excessive incentives to build up excessive exposures to your ex-ante “The Infallible” but that nonetheless failed you ex-post, like AAA rated securities, Spanish real estate, Greece and much more of that sort. 

PS. You fill your mouths with growing concerns about the increasing disparage between the have and the have-nots. Don’t YOU understand that one fundamental driver of that are your regulations which favor those already favored so much by markets and banks, “The Infallible”, and thereby discriminate against “The Risky”, those already discriminated against by markets and banks?