Wall Street’s most powerful bankers told the Senate Banking Committee last week that proposed new rules known as the “Basel III endgame” would hurt average Americans. JPMorgan Chase & Co. CEO Jamie Dimon warned that by demanding banks expand their capital cushions, the regulations would raise the costs of “your local affordable housing, or the Montana pension plan.”

While that may very well be true, at least those Montana pensioners have people in the Senate supposedly looking out for their interests. The bigger problem with the way countries are implementing Basel III regulations is that nobody’s looking out for the interests of borrowers outside their own borders. That hurts everyone — borrowers, lenders, and even the planet.

QOSHE - New Bank Rules Are Bad for the West, Worse for the Rest - Mihir Sharma
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New Bank Rules Are Bad for the West, Worse for the Rest

5 1
14.12.2023

Wall Street’s most powerful bankers told the Senate Banking Committee last week that proposed new rules known as the “Basel III endgame” would hurt average Americans. JPMorgan........

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