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Credit Meltdown&ShadowBankingSystem:WhatBasel III Missed

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Chemtrail Central > Politics

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Ellyn





Joined: 16 Jul 2000
Posts: 5357
Credit Meltdown&ShadowBankingSystem:WhatBasel III Missed PostSun Oct 03, 2010 7:30 am  Reply with quote  

The Credit Meltdown and the Shadow Banking System: What Basel III Missed
Friday 01 October 2010

by: Ellen Brown, t r u t h o u t | News Analysis

While local banks are held in check by the new banking czars in Basel, Wall Street's "shadow banking system" has hardly been curbed by regulators at all; and it is here that the 2008 credit crisis was actually precipitated. The banking system's credit machine is systemically flawed and needs a radical overhaul.

http://www.truth-out.org/the-credit-meltdown-and-shadow-banking-system-what-basel-iii-missed63782
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