The ruling it-shall-not-be-named-or-discussed fact is that if the Basel Committee had not implemented their “Minimum Capital Requirements for Banks”, based on what its members perceived as risk, which opened the door for the increase of financial leverage; and then with the “If they are good enough for the Basel Committee they must be good enough for you” empowered the credit rating agencies as the global risk-surveyors, other bad things might have happened, but never a financial crisis nearly as destructive as this.
Could therefore the Basel Committee be sued for malpractice? The mother of all class actions? Just for the sake of transparency? To stop it from digging the world further down in the hole they’ve been place by it?
Could therefore the Basel Committee be sued for malpractice? The mother of all class actions? Just for the sake of transparency? To stop it from digging the world further down in the hole they’ve been place by it?
Legal advisors consulted by Carlos Molotov Pavlow have told him..."don't you worry!"
