Pull out of Basel III: The moral hazard of government ratings

posted by
September 27, 2011
by Fred Smith  
Posted in Commentary

"Recently and for different reasons, two high-profile players from different parts of the financial sector -- JPMorganChase CEO Jamie Dimon and respected banking analyst Christopher Whalen -- have called for the U.S. top pull out of the Basel III bank solvency agreement. I agree, and it’s good that at long last these international agreements are finally getting the scrutiny they deserve. They have contributed to the very problems they claim to solve — bad risk management and moral hazard." (09/26/11)


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