When will they ever learn?
What? Just because the international financial crisis is carefully declared to be on the way out (I believe that when I see it) the necessary drive to at least try and prevent another total overkill in the future through regulation is now in danger as things ain’t that bad right now or rather not bad enough?
Upcoming G-20 meeting in Pittsburgh might not be too effective.
Raghuram Rajan, former chief economist at the International Monetary Fund and now a professor at the University of Chicago said: “We’re getting a recovery, so dealing with the true problems is going to be more difficult. The risk is that we’re just going to tool around until the next crisis.”
What about the mealy-mouthed pledge of all these walking and talking failures of governments “to strengthen financial regulation to rebuild trust” ?
Back to (bad) business as usual?
Fair warning: if they let things slip again, the next crisis will be truly revolutionary. And not far away either.
Khhh…you could not make it up…
Written & © by Helena Lind
September 3rd, 2009 at 7:40 am
You’re right, they think it’s all behind them and that leniancy may continue . And curbing banker’s bonuses is not enough.