Comments on: Jamie Dimon is right: Who Needs Basel III? Wed, 16 Jul 2014 00:47:01 +0000 hourly 1 By: George_Lekatis Thu, 22 Sep 2011 22:28:37 +0000 No, America should not withdraw from Basel III for many reasons.

There is nothing anti-American in Basel iii. Anti-American is the effort to take excessive risks and escape regulation. Anti-American is the strategy to speculate and when you win you keep the money, when you fail you are saved with other people’s money. Anti-American is also the effort to appear as a patriot when you try to hide your real agenda.

Basel iii is a minimum standard, not an accurate standard. It is a basis, and banks have to do more than the minimum (important Pillar 2 principle). If you want to do more than the basic Basel iii rules that you find wrong, you are following the new Basel iii rules.

Is Basel iii an excellent framework? No, it is not. But it is the best we have now. We can make it better. This is the way we build international standards.

George Lekatis

By: SoundMoney Thu, 15 Sep 2011 23:06:28 +0000 Dimon uses the “anti-American” label to paint a wide swath against sensible liquidity and capital measures. Between JPM and the NY Fed, we can count on the perpetuation of moral hazard and a lack of transparency in markets (esp. the repo markets) – the special interest returns are just too lucrative.

By: Woltmann Thu, 15 Sep 2011 17:24:26 +0000 I would argue that if you valued the assets of a lot of American Banks at what they are actually worth today, a lot of them would be a lot less solvent than they appear to be given the creative accounting they are using du jour. If the American Banks have such a swell thing going, why isn’t Basel tripping all over themselves trying to copy our system? Dimon just wants his way. To hell with him ..