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Greenspan: Not my fault!
Well, a little.
Here's an idea: "Former Federal Reserve Chairman Alan Greenspan said regulators may need to compel banks to raise capital levels by as much as 40 percent."
Mar 18, 2010 at 03:32 PM | Permalink
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I wonder if he's been paying attention to the Lehman post-mortem. They cooked their books to appear to improve liquidity - trading assets for cash at the end of quarter, only to trade back at the start of the next quarter, and to increase asset valuation. Those are things that regulation needs to address. If a bank can lie to make its capital position look better than it actually is, the 14% vs. 10% rule helps a lot less.
Plus, the 14% rule would be a regulation itself.
Jim Caserta |
Mar 18, 2010 at 03:41 PM
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