Next crash could hit before banking reform is implemented

08/9/2010 | Bloomberg

Jamie Dimon, CEO at JPMorgan Chase, told the Financial Crisis Inquiry Commission earlier this year that the financial system faces a major crisis once "every five to seven years." If the next crisis hits within that time frame, many of the changes to the financial system will not yet be in place. The Basel Committee on Banking Supervision, for example, has proposed giving banks until 2018 to meet borrowing restrictions.

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