Law, yes, interference, no
Sir Gideon Rachman quotes Jacques Attali, an advisor to President Sarkozy of France saying “the core of the financial markets is that we have global markets and no global rule of law”, “And now for a world government” December 9.
Yes surely we need more global rule of law but while legislating for the globe let us be very clear on the differences between law and interference. The current financial crisis was caused primarily by the financial regulators in Basel interfering with the markets by giving unlimited siren powers to the credit rating agencies without tying us all up to the mast or plugging our ears with beeswax, regulators included.
Yes surely we need more global rule of law but while legislating for the globe let us be very clear on the differences between law and interference. The current financial crisis was caused primarily by the financial regulators in Basel interfering with the markets by giving unlimited siren powers to the credit rating agencies without tying us all up to the mast or plugging our ears with beeswax, regulators included.
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