Saturday, March 13, 2010

IMF Official: World's Regulatory Supervision Shockingly Inadequate

by Bill McBride on 3/13/2010 11:15:00 AM

From Tom Abate at the San Francisco Chronicle: Financial leaders dissect meltdown

"What is quite shocking," [John Lipsky, a senior official of the International Monetary Fund] said, is how inadequate the world's regulatory supervisors were in curbing the lax lending standards at the heart of the housing and credit bubbles.
Shocked? Hmmm ...