Basel III: The Liquidity Coverage Ratio and liquidity risk monitoring tools
This is almost comical! The top can't see the bottom-up for all the middlemen?
The root causes of many canopy problems are always hidden underground?
This boils down to simple collusion between international merchant lobbies. Instead of a bevy of confusing suggestions, I have only one. "No." Just one syllable. Instead of bank liquidity, how about some more lower class liquidity among the 99%?
Warren Mosler had a suggestion better than what the BIS provides.
"Global banking rules make no sense at all to me.
Each CB need[s] only mind the banks [that] it insures.
But until that’s understood we have to suffer through this nonsense."
Oh I think it's understood. Yet understanding doesn't matter until there's adequate alignment among all those who understand what, and why, and who care.
Is BIS slap an acknowledged economic term? Have we all just been BIS slapped again?
Also, why are banks entitled to the “lender of last resort” facility, but not other businesses? I mean if Wall Street criminals can get loans at penalty rates (sorry, meant near zero rates) in exchange for first class collateral (sorry, meant junk collateral), why not everyone else?
ReplyDeleteAlso, why are banks entitled to the “lender of last resort” facility, but not other businesses? I mean if Wall Street criminals can get loans at penalty rates (sorry, meant near zero rates) in exchange for first class collateral (sorry, meant junk collateral), why not everyone else?
ReplyDeleteThe conclusion is that they are not private enterprises but public-private partnerships in which the private takes all the profit and the public bears most of the risk. Such a deal!
Ralph,
ReplyDeleteWill you come over hear and run for POTUS? You won't live long enough to have your citizenship challenged, but others will take up the cause.
They can't assassinate us all.