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Unfinished Business; Fixing International Banking
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 399 no. 8733 (May 2011)
,
page 16.
Topik:
Economic Crisis
;
Regulation of Financial Institutions
;
International Banking
;
International
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.66
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The financial crisis was fought at the weekends. In sweat-stained shirts, fuelled by stale coffee and cold pizza, harried officials worked the phones and held emergency meetings with other bankers to discuss whether to save this bank or to let that one sink--all before markets opened on Monday. The Sunday scrambling reflected the fact that officials had too many fires to put out and too few good options to choose from. Before the crisis, regulators hoped that the discipline of markets would ensure banks were sensible in the risks they took. That proved to be a vain hope, in part because markets are prone to exuberance and in part because many banks had become so large that they could not be allowed to fail--and they knew it. The emphasis now is on drawing up a new rule book for finance.
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