Choose reform or recovery, bankers tell world leaders

[CHIMO]

Source: Globe and Mail Update

The world's bankers have descended on Davos to warn that heavy-handed reforms could choke off the economic recovery.

A year ago, chastened by massive losses and public bailouts, few of the world's top bankers made the trip to this tony village in Switzerland for the World Economic Forum, where world and business leaders rub elbows for a few days every year.

Now, as governments in the United States, Britain and France are pushing for measures to curb their trading, tax their bonuses, and trim them so they are not too big to be allowed to fail, the bankers have come back to make their case against the proposed regulatory reforms.

The rush to create rules in various jurisdictions could lead banks to structure their businesses to take advantage of rules in different places, warned Joseph Ackerman, the chairman of Deutsche Bank.


Read more: http://www.theglobeandmail.com/report-on-business/choose-reform-or-recovery-bankers-tell-world-leaders/article1446656/

[msongs]

1. fear mongers threatening their customers lol nt

[Thrill]

2. Yeah they showed Obama they mean business

look what they did to the stock market and our 401k's

[VAliberal]

3. nationalize the banks

[MisterP]

4. the same bankers that told everyone that deregulating mortgage games would help the world, and

instead caused the galloping crash that we're in

I'm not gonna endorse everything the 1890s-1910s Populists endorsed (I mean, "restoring competitiveness" would be another pig in a poke: we need welfare and goal-oriented rather than market-freeing regulation), but most bank officials most definitely

[ShockediSay]

5. Fascist propaganda. Let them resturcture into other jursidctions

keep them out of the US and invite in those that

play the game conscientiously, presumably EU Rules.

It's like the drug companies and Canada. The Corporations

claim they will pull out but there's too much money

to be made in a regulated environment.

[hatrack]

6. "Nice society youze got dere . . .

Sure would hate ta see summin' happen to it!"

:eyes:

[defendandprotect]

7. Yep...like a higher Minimum wage, labor unions, and health care will break us!!!

[Grand Taurean]

8. Blackmail anyone?

[HughBeaumont]

9. Elizabeth Warren: "What part of 'we bailed you out' did you not GET?"

In a less-civilized world, people like this would have their heads on pikes by now.

[closeupready]

16. Yes, and that's why their threats to pull out are complete bullshit.

They know that governments would have responded far more harshly elsewhere.

[wroberts189]

10. Bankers say they will play economic terrorism if demands not met. nt

[Name removed]

11. Deleted message

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[KILL THE WISE ONE]

12. If we were in CHINA would we not just shoot the CEO

If I must compete with China for my marketing my labor, maybe we should apply similar rules.

[Dover]

13. If enough people moved their accounts to community banks they would send the message

loud and clear. Obama seems to have been encouraging it in his speech tonight.

[JDPriestly]

14. In other words, they have made such a mess of the economy

that the only recovery possible is another bubble, another boom and bust.

How sad.

We have to reform the system. We cannot continue these bubble, boom and bust cycles. They really hurt the middle class.

[cutlassmama]

15. they don't care. they only care about their profits.

[Odin2005]

17. Is that a threat?

:grr: