Introduction
Jason Reed/Reuters Lloyd Blankfein of Goldman Sachs, left, and Jamie Dimon of JPMorgan Chase.
Jamie Dimon has been on the warpath this month against new international banking rules, saying their capital requirements are “anti-American.” At a closed-door meeting of the Financial Stability Forum in Washington last week, he reportedly “launched a tirade” against the Basel III regulatory standards and against Mark Carney, the central banker of Canada who is seen as the successor to lead the forum.
On Sunday, Mr. Carney said publicly: “If some institutions feel pressure today, it is because they have done too little for too long, rather than because they are being asked to do too much, too soon.”
Is Mr. Dimon onto something with his “anti-American” line? Will the rules hurt American banks’ competitiveness?
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Article source: http://www.nytimes.com/roomfordebate/2011/09/28/are-global-banking-rules-anti-american?partner=rss&emc=rss
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