International coordination is not necessarily good coordination
But the world does not need dozens of faceless bankers and bureaucrats hammering out dull and complex regulatory solutions in closed smokeless rooms. That is exactly why they can concoct such utterly silly ideas like allowing banks to hold only 1.6 percent in equity just because a credit rating agency opines someone is worthy an AAA rating, and by this effectively authorize 62.5 to 1 bank leverage.
If it is this kind of international coordination that might be endangered by the politicians, then this can only be a welcomed evolution. Just let us make sure the pitchforks go after the Basel Committee, the producers of the financial “Terminators”.