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European leaders call for a 'global new deal'

hypocritexposer

Well-known member
BERLIN — European leaders backed sweeping new regulations for financial markets and hedge funds at a summit Sunday in Berlin as politicians and countries scrambled to tame the global economic crisis.

German Chancellor Angela Merkel hosted heads of state and finance ministers from Europe’s largest economies to try to establish a common European position on economic reforms before an April 2 summit in London of the Group of 20 countries.

“All financial markets, products and participants including hedge funds and other private pools of capital which may pose a systematic risk must be subjected to appropriate oversight or regulation,” Merkel said in a statement released on behalf of the summit members, following the talks.

Top officials from Britain, France, Germany, Italy, Luxembourg, Spain, the Netherlands and Czech Republic agreed on seven key points during their one-day meeting in Berlin, the statement said.

By THE ASSOCIATED PRESS
http://www.edmontonsun.com/News/World/2009/02/22/8488616.html
 
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Anonymous

Guest
Bernanke said much the same today in his testimony to the Senate-- that besides the G7 nations agreeing to put in more stimulus packages in their home countries- which will help speed the US recovery- there was also agreement there needs to be much more regulation and oversight put on the financial markets ....
 

hypocritexposer

Well-known member
there was also agreement there needs to be much more regulation and oversight put on the financial markets ....

Global oversight? Global Regulations? Maybe it could just be added into WTO? Maybe call it World Trade & Financial Organization!
 

TexasBred

Well-known member
Oldtimer said:
Bernanke said much the same today in his testimony to the Senate-- that besides the G7 nations agreeing to put in more stimulus packages in their home countries- which will help speed the US recovery- there was also agreement there needs to be much more regulation and oversight put on the financial markets ....

There is enough regulation and oversight...what we have just needs to be enforced, a few heads roll and a few hundred new admissions to federal prisons. THAT at least would help the people regain some confidence in the system.
 

Mike

Well-known member
hypocritexposer said:
there was also agreement there needs to be much more regulation and oversight put on the financial markets ....

Global oversight? Global Regulations? Maybe it could just be added into WTO? Maybe call it World Trade & Financial Organization!

WTF Org? :lol:
 
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Anonymous

Guest
hypocritexposer said:
there was also agreement there needs to be much more regulation and oversight put on the financial markets ....

Global oversight? Global Regulations? Maybe it could just be added into WTO? Maybe call it World Trade & Financial Organization!

If they are going to allow foreign banks to operate in the US- US banks to operate overseas- and global trading of these financials- they are going to need someone to oversee and evaluate the risk...

The private rating companies failed- and were shown they are for sale to the highest bidder....
 

hypocritexposer

Well-known member
So OT, with Agriculture companies, if you are trading or operating in other countries, you agree with an International Org. to regulate that trade?

Say the WTO
 
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Anonymous

Guest
I would prefer they put back the law/rule that the original lending company have to hold onto part of the risk- or as the bankers call it "skin in the game"- to guarantee better loan making- and not be so apt to take undue risks....
 
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