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Banking regulation

Comment 2nd July 2010

Change the accounting rules for banks in particular to force them to declare ALL assets and liabilities on their balance sheets. Credit swaps and complex instruments should be independantly assessed  to ensure the poorly judged credit ratings of the past are unacceptable.  Rating agencies assessments shoulb be reviewed.

Why does this matter?

If this had been in place before the crash it would have forced the banks to take a proper view of risk rather than the convenient one allowing them to show huge profits which were not there.

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