This is not the last news we will hear..
there is a market structural issue for the financial sector worldwide.
nothing has changed since credit crunch of 2008, same players different chairs..
even with better monitoring of capital ratios on a national level does not really fix anything as wrong question is asked even by those involved and are in position to do something. (look at reaction of Volcker's rules)
Using a car analogy, It is not the gears or oil of the engine that need to be monitored better but in this case, I would argue that the 'whole gear box' need to be changed!
Sadly, no one is powerful enough (with enough money and political clout) to make that happen (as they invariably made money from the same system that they should be 'fixing'), let alone brave enough to suggest a solution..! (why rock the boat when one could have an easy life in some kind of anonymous tax haven.. key is to 'earn' while you can now!)
Therefore, the status quo will play it out unless a catalyst of change arrive. future is sadly not bright for the financial world except for those at the top, I am afraid.
Andy yes, you have to watch and erm be affected by it without much recourse.. (most likely)
BR
@GarethWong
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