G20 Leaders Miss The Point… Bad News For Future Policy
Contrarian Profits (November 19th, 2008) Writes:
The G20 leader are wrong to blame reckless private banks for this credit crisis, says Martin Hutchinson. They were allowed to disregard risks by an overly accommodative monetary policy. Martin says this error means the focus of imminent new bank regulation will miss the key issues.
This from Money Morning:
The gathering of 20 largest industrial countries in Washington this past weekend – billed as a crucial G20 summit – turned out to be a rather dull scrum.
There were promises of a coordinated approach to bank regulation, additional economic stimulus packages, and increased allocations for the International Monetary Fund (IMF) –one of the five “aftershock-investing” opportunities Money Morning has counseled readers to watch for. But none of the G20 meeting proposals seemed even remotely likely to make a difference in the here and now.
Even so, when you consider the kind of mischief the world’s 20
...Anna Schwarz;, bank executives, bank parents;, bank regulation;, Barack Obama, contrarian profits, Depression, Doha;, Fannie Mae, Federal Reserve System, Freddie Mac, imminent new bank regulation;, International Monetary Fund, Investment Banking, Jimmy Stewart, Market Commentary, Martin Hutchinson, Milton Friedman, Paul Volcker, Real Estate, tiny new investment banks;, United States, Us Federal Reserve, Washington


![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)

