The voice of the borrowing commoners, upon which recovery depends, is never heard in Basel

Sir, Brooke Masters and Shahien Nasiripour in “Basel move aims to stoke recovery”, January 8 quote Mayra Rodriguez Valladares, a regulatory consultant, saying “This latest move shows how it is practically impossible to reform the financial sector when you have so divergent interests among politicians, regulators and bankers of the Basel committee member countries”.

Yes but if we are going to have any real recovery in the real economy then the most important actor to consult should be the small-medium businesses and entrepreneurs who need access to bank credit to ask what they think of the regulations and if these are helpful or not. And by now Basel widening slightly the requisites for belonging to the favored aaaristocracy, they have only made it harder for the excluded commoners to access bank credit.

God help us! These regulators have not the faintest understanding of the damages they are causing to our real economies trying to save the banks.