Progressive Business Reading

The recent crisis was caused by the accumulation of risks in the financial sector beyond the control of supervisors because our regulatory system had many flaws:

- Large parts of the financial sector, such as rating agencies and hedge funds, were not controlled, some financial products like derivatives, OTC (OTC) escaped any form of surveillance, compensation in the financial sector , factors of excessive risk taking in business, were not subject to any supervision.

- The rules were incomplete: the activities of banks were supervised by the Basel II rules whose implementation was still incomplete at the outbreak of the crisis in 2007-2008, our systems of supervision were lacking specific tools to fight against systemic risk , that is to say against the contagion in the financial sector.

- The rules were applied too unequal: a large number of non-cooperative jurisdictions refused to exchange the information needed for the fight against tax evasion (tax havens) or the fight against money laundering and no international body does was responsible for coordinating the activities of international and national regulators.

Possibility related to :

• What makes the G20 so far?
  G20 Summit in Washington, the Heads of State and Government pledged that all mar...
• The creation of sub prime loans and mortgages
  The creation of sub prime loans and mortgages is what got most of these banks i...
• Financial Problems in Marriage
  Did you know that financial problems in marriage are a major cause of divorce? I...
• The State of Financial Markets in the Southern African Region
  Up to the end of 1994, there were 14 stock exchanges in the entire African conti...
• There are reasons for the Fed to abandon its support for the Treasury bond market
  There is much debate about whether the Fed should tighten or ease monetary polic...