Geithner Presses for Controls On Banks' Risk-Taking
Global Finance › Vol. 23 Nbr. 9, October 2009
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Summary
It looks like there could be significant reform of the global banking system after all. US Treasury secretary Timothy Geithner pushed for meaningful reform at a meeting in London of Group of 20 finance ministers and central bank governors on September 5, saying the markets alone could not solve the issues. Everyone at the meeting agreed that excessive risk-taking by highly paid bankers was one source of the financial crisis. The G-20 finance officials said in a joint statement that proposed new compensation practices would prevent excessive short-term risk-taking, helping to mitigate systemic risk.
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Geithner Presses for Controls On Banks' Risk-Taking
It looks like there could be significant reform of the global banking system after all. US Treasury secre...
See the full content of this document
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