Posts Tagged ‘markets & regulation’

Basel III: business as usual for bankers

by Carne Ross

Successful lobbying – or blackmailing – by banks means that financial regulation to prevent another crash is too weak to work



It turns out that the global political-economic system is about capital, after all. Capital explains what kind of system we are in; capital explains who runs it.

The global economy came very close to total collapse in the so-called “credit crunch” of 2008-2009; tens of millions lost their jobs; many economies have yet to recover. The meltdown was caused by too much risky lending by banks. There is a simple method to prevent another crisis: make banks hold more capital against their loans. The more capital a bank is required to hold, the less likely it is to fold when confidence collapses.

Read more ...

Connect now



Email address:


Progressing the Social Democratic Agenda