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Old 03-31-2013, 07:56 PM   #179
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The Fixer

Join Date: Apr 2001
Location: in the present moment
Posts: 61,385

C J Anderson

Originally Posted by mhgaffney View Post
The executive summary gives away the game when they call their strategy a "top down" approach.

Three guesses.

Here's another transparent passage. Notice they don't show concern that banks are too big to fail. This says it all:

The financial crisis that began in late 2007 highlighted the shortcomings of the arrangements for handling the failure of large financial institutions that were in place on either side of the Atlantic. Large banking organizations in both the U.S. and the U.K. had become highly leveraged and complex, with numerous and dispersed financial operations, extensive off-balance-sheet activities, and opaque financial statements. These institutions were managed as single entities, despite their subsidiaries being structured as separate and distinct legal entities. They were highly interconnected through their capital markets activities, interbank lending, payments, and off-balance-sheet arrangements.
No collusion there.... There is no global bank just a bunch of highly competitive banks vying for your deposit dollars Nothing to see here. Move along Move along
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