December 10, 2016
Sir, Katie Martin reports: “Regulators to grill Citi over role in sterling flash crash” December 10.
That’s OK. Grill Citi! But when are regulators going to be grilled on the crisis they caused by allowing banks to leverage over 60 times to 1 their equity when investing in AAA to AA rated securities; or almost limitless when lending to sovereigns like Greece?
And when are they going to be grilled on how their nonsensical risk aversion impedes satisfying the credit needs of the real economy?
I say. Grill Regulators Too!
I suggest that grilling could begin with the following questions that regulators have steadfastly refused to answer me… because I am no one to have the right to ask them questions (and FT has refused to help me)