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Monday, October 11, 2010

Global Financial Rules Being Prepared by Bank Regulators

“International bank regulators are planning a fresh wave of rules for the world’s most important financial companies in an effort to ensure that firms considered ‘too big to fail’ are better protected from collapse — and that taxpayers are insulated from the fallout if they do. The new regulations could include demands that such firms – referred to by regulators as ‘systemically important financial institutions’ — keep more capital on hand than other banks and companies, draft detailed ‘living wills’ to outline how they could be eased into bankruptcy without damaging the larger economy, and be subject to more intense government supervision.” (Washington Post)

Globalizing regulatory hubris.

FEE Timely Classic
“Decentralization: Freedom by Diffusion” by David C. Huff