The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, February 1, 2011

Bank of England: Basel III capital requirements should be doubled for banks

Trust the Bank of England to come out and say what a lot of people really think. Minimum bank equity to risk-weighted assets should be around 20%, not the 7% mandated by Basel III. The FT's report is here. I guess it takes a true bank crisis before regulators have the kahunas to say this.