Christopher Whalen

Do banks really need more capital?

September 28, 2011

Global regulators are united in the belief that banks need more capital. The crisis of the past five years or so, regulators testify, requires more capital. Former FDIC Chairman Sheila Bair, upon hearing my heretical ideas on the US rejecting Basel III entirely, asked me whether I supported her and US regulators in seeking more capital in general.

Jamie Dimon is right: Who Needs Basel III?

September 14, 2011

It’s beyond ironic — closer to moronic, really — that Jamie Dimon would give an interview to London’s very own Financial Times, complaining that international bank-regulation standards are “anti-American,” on the very day that the Vickers ReportRobert Peston calls it “the most radical reform of British banks in a generation, and possibly ever” — is released.

Basel III in the age of sovereign default

August 1, 2011

Last week I described what the prospective default by the US does to the bond markets in terms of spread relationships with supposed “risk free” rate of return represented by government bonds in a research note, “Black Friday and the end of risk free returns”:

The key to the future of finance is now emerging

September 15, 2010

This week I lovingly disparaged those members of the media who spent much time covering the new and improved bank regulatory scheme known as “Basel III.” As someone who was quizzed by my father about the original 1988 Basel accord, I don’t give a toasted sausage about Basel III and said so recently: