Monday, October 17, 2011


. Monday, October 17, 2011

Vikash Yadav supports the Occupy Wall Street, but wants to see more protests directed at international institutions like the Basel Committee on Banking Supervision. Although he doesn't say this, I suspect that he is not aware that the BCBS is nothing more than a talk shop. Its members are the (domestic) central bankers and finance ministers from industrial economies. As such, it doesn't make a whole lot of sense to protest against the administrative staff, which are the only ones actually located in Basel. It makes a lot more sense to protest against the domestic authorities that meet under the auspices of the BCBS to set international regulatory policy. Which is pretty much what the #OWS movement is doing.


There was an error in this gadget




Add to Technorati Favorites