Schwarzman: Regulatory uncertainty threatens recovery

02/12/2010 | Washington Post, The

Stephen A. Schwarzman, chairman, CEO and co-founder of The Blackstone Group, writes that there is reason to think that much of the global economy is on the path to recovery, but the recovery is fragile. Bankers are plagued with a host of uncertainties related to capital requirements, reserves, taxes, levies and other charges, Schwarzman notes. "These uncertainties have severely hampered banking executives' ability to plan how to run their businesses or even know what their businesses may include," he writes. The situation is resulting in reduced lending, hindering economic growth, Schwarzman adds.

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