They lost GOP Sen. Richard Shelby:
Counterparties: The bank capital battle
By Ben Walsh
June 7, 2012
REUTERS
America’s big banks are short a mere $500 billion in capital. That’s how much more of a cushion Nobel prize-winning economist Robert Engle thinks is needed for banks to survive another financial crisis. Even more disconcerting is that the shortfall is just $39 billion less than it was before the collapse of Lehman Brothers.
In the wake of JPMorgan’s multibillion-dollar botched hedge, there’s something of a bipartisan consensus for stronger bank capital requirements for America’s banks. Even Richard Shelby now thinks the Basel III requirements should be beefed up. Keep in mind that just last fall, Jamie Dimon was calling capital requirements “anti-American“.
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