Commentary: Basel III is a response to fears, not guidance to recovery

07/29/2010 | Wall Street Journal, The

Stock markets might not have celebrated revised proposals for capital and liquidity rules from the Basel Committee on Banking Supervision if investors had fully grasped the role fears played in the rules' drafting, columnist Patience Wheatcroft writes. Central bankers are seriously worried about the shaky economy and that Basel III will spur a double-dip recession if crafted carelessly, Wheatcroft notes.

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