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I question the value of APRA's doggedness. In my opinion, regulation is necessary only to certain point beyond which the costs far outweigh the benefits (Basel's not-so-brave new world, January 7). Those benefits are not only measured by bank ROEs but also new fees to customers, lower levels of onshore bank employment and declining product innovation.
Bureaucrats need to be kept on a very tight leesh for market forces to work well.
Changing rules and pushing deadlines back are signs of an inability to resolve problems...we are sailing in uncharted waters (Basel's not-so-brave new world, January 7).
The Basel Committee is nothing but a bunch of gutless wonders, surrendering to the ever powerful banking empires of the world (Basel's not-so-brave new world, January 8). There WILL soon be another banking disaster that will make the Lehman Bros episode look miniscule! The BC is too late in getting banks back into 'banking'. Banks are drugged out on debt, derivatives and shonky packaged parcels of worthless entities. When one major bank overdoses on (say) a derivatives bet gone wrong, the rest will fall like a house of cards. We are living in extremely volatile and critically dangerous times. Do not think for one moment that our Aust banks are immune - they are all drugged-out on debt.
Beats me why we must kowtow to a bunch of busted arse European banks (Basel's not-so-brave new world, January 8).
"Whereas the European and US banks were badly damaged by the financial crisis and many of them are still in recovery mode the Australian majors sailed through the crisis..." with taxpayer guarantees and assistance, now a seemingly permanent part of the banking landscape. (Basel's not-so-brave new world, January 7)