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The Bilderberg group and global economic policies

Started by Sibling Zono (anon1mat0), October 04, 2008, 06:29:50 AM

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Sibling Zono (anon1mat0)

This is a look into the past (1999) and the discussion on Redesigning the International Financial Architecture.
After reading and referencing the crisis of the past decade in Asia and S.America I found some interesting bits about bail-outs and regulation (my emphasis):
Quote from: Bilderberg 1999 meeting
How can one begin to establish international regulators when there are such conspicuous rivalries between regulators within countries, especially America? And how do you design a system that bails in the private sector? Several participants returned to the basic theme that the markets have globalised but the regulatory systems have not.
[snip]
Several private-sector bankers rose to defend their profession. One American banker pointed out that creditors have often been extremely flexible, not least in the bail-out of Long Term Capital Management. The public sector is simply behind: witness the delays in changing the rules about investment banking in the United States. A British banker believed that trust is key.
[snip]
The third panellist wanted to see the IMF become a catalyst for change; if not, capital controls will be more likely. The first panellist admitted that the IMF has not always explained its case well. But he argued that the question of the power of a lender of last resort is tied into that of how to bail in the private sector. Until a way is found to keep the private sector involved, it will be very difficult to have an effective lender of last resort.
My take -in hindsight- is that some of the 'conspiracy' claims about the infamous group may be rightly related to the collusion between regulators and the ones they should be supposedly regulating.

How would I 'love' to read in next year's meeting transcript how to prevent the impending regulation.  ::)
Sibling Zono(trichia Capensis) aka anon1mat0 aka Nicolás.

PPPP: Politicians are Parasitic, Predatory and Perverse.