03 Mar.
The Institute of International Finance, a trade association of global banks has found that new proposals to regulate banks should be one of the global economy’s biggest worries. “Uncertainties about the prospects for reform — which have been highlighted by the recent proliferation of national proposals — are thought to pose additional risks to economic recovery.”
The group is concerned about the Obama proposal to tax banks to pay the government rescue and the so-called Volcker rule, which would bar banks from proprietary trading.
For some time, bankers have been arguing that uncertainty about regulation is messing up the economy because beleaguered bankers don’t know what to expect out of government.
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03 Mar.
