InfoAnda - Bankers leave Davos battered by blame game

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Analysis: U.S. overtures to Egypt Islamists show pragmatism | | 1 July 2011
AngloGold says to fire 12,000 South Africa strikers | | 24 October 2012
Book trade seeks a deal with Google | Technology | | 10 October 2009

US drone strike 'kills six in Pakistan' | 22 November 2010

Forum Views () Forum Replies ()

Read more with google mobile : Bankers leave Davos battered by blame game

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Bankers leave Davos battered by blame game AFP - Sunday, January 31 Send IM Story Print A demonstrator holds a banner during a rally against the annual meeting of the World Economic Forum (WEF) attended by the world's business and political elite on January 30, 2010 in the Swiss Alp resort of Davos. The global banking elite left Davos on Sunday battered and bruised by the latest round of the blame game over the world financial crisis. DAVOS, Switzerland (AFP) - – The global banking elite left Davos on Sunday battered and bruised by the latest round of the blame game over the world financial crisis. Scolded by presidents, prime ministers, central bank chiefs and even billionaire investors over regulation and their salaries, the heads of the institutions which dominate the financial markets have had to admit that some kind of reform is necessary. US President Barack Obama's plans to limit the size and activities of banks prompted an urgent call at the World Economic Forum for new regulations coordinated on an international level. Bankers at first acted with shock. But they were jolted by criticism of their attitude. "Don't feel sorry for yourselves," declared British finance minister Alistair Darling. And now ministers and bankers agree that if there are rules they have to be for every country. "We must have global rules to treat global issues. This is absolutely essential. If not, it's a recipe for catastrophe," said Jean-Claude Trichet, head of the European Central Bank, at the Davos forum in Switzerland. International Monetary Fund chief Dominique Strauss-Kahn said "my fear is that we may forget key lessons of crisis that is coordination." He was "a bit afraid that we're not exactly going in that direction." During the London Group of 20 summit on the crisis in April 2009, world leaders asked the Financial Stability Board and the Basel Committee to draft new banking regulations. The issue was left to the two institutions while governments turned their focus to lifting economic crisis management. In September, the issue was brought up at the Pittsburgh summit. Britain and France made a call in December for a global banking regulation pact, and have since both followed that up by announcing a tax on traders' bonuses. Obama announced plans to limit banks' size and activities, forcing them to choose between proprietary activities such as trading in stocks and sometimes risky financial instruments for their own benefit -- and traditional activities, like making loans and collecting deposits. The initiative annoyed some politicians in Europe who said that it went against the international coordination principles agreed on by the G20. "Giving in to unilateralism, to 'every man for himself', would also be an economic, political and moral error," said French President Nicolas Sarkozy in his keynote address to the forum, even though he agreed with the essence of Obama's plans. In an interview with AFP, German Economy Minister Rainer Bruederle pointed out that "due to competition between financial centres, we should not implement (reforms) in an isolated way on a national or European basis." The private sector has also asked for international coordination. Tidjane Thiam, who heads British insurance group Prudential, said "consistency" was needed. Josef Ackermann, chairman of Deutsche Bank, said an international harmonisation of regulations was required. Standard Chartered bank's group chief executive Peter Sands asked for Asia's voice to be taken into account on reforms. "What we don't want is a situation where we shape the future regulatory reform too dominated by western voices with the effect of Asia having to take medicine for an illness" that it didn't have, he said, pointing out that the region's banks suffered little from the crisis. Signalling the urgency of the issue, ministers, bankers and central bankers held an informal meeting at Davos on Saturday. Barney Frank, chairman of the US House of Representatives' financial services committee, who took part in the meeting, said bankers now saw there would have to be "tough" regulation. "There's going to be regulation, they understand that. We are willing to talk to people about the specifics of how to achieve the goals, but ... there is general agreement that there has to be international coordination." He added that "They aren't in charge of this. The political leadership certainly in the US is going to go ahead with tough, sensible regulation." Recommend Send IM Story Print News Search Top Stories Bankers leave Davos battered by blame game Obama trims US space ambitions GlaxoSmithKline to axe 4,000 jobs in US, Europe Gandhi ashes scattered off South Africa Italy halts bluefin fishing for a year: EU More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Gandhi ashes scattered off South Africa Got a decision to make? Have some sugar, study says GlaxoSmithKline to axe 4,000 jobs in US, Europe Bankers resigned to reform after Davos bust-up US angers China with Taiwan arms package More Most Viewed » Woman who saved Anne Frank's diary dead at 100 Scientists praise Obama as Doomsday clock reset More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 31 January 2010
Iran puts 16 opposition supporters on trial
Italy halts bluefin fishing for a year: EU
Haiti faces long, difficult road to recovery |
Davos ends with recovery warning after banking bust-up
Police: Suicide bomber kills 2 at Iraqi restaurant
Italian judges stage walk-out against Berlusconi
Thousands rally to urge Russia's Putin to resign |
Gandhi ashes scattered off South Africa
Iran warns protesters as post-vote trial starts
Iran executes two men for rape
Iran opposition in implicit call for protest on Feb 11
Sri Lanka's losing candidate vows protests |
Thai PM: There won't be a coup d'etat
Pearl Harbor merging with Hickam Air Force Base
NATO airstrike kills 4 Afghan soldiers in mix-up
Obama taking populist tone in fight over jobs
AP Interview: Months ahead key to Afghan fight
US military airlifts of Haiti quake victims halted
Washington Times names Dealey as top editor
Southeastern US stares down icy, snowy weekend
Oregon legislators say 'Whew,' go back to work
Afghan govt condemns NATO airstrike on soldiers
NM bill first step toward carbon storage
Teen held in 80-year-old Ohio churchgoer's death
NYC fire in immigrant housing kills at least 5
Bigelow, Cameron, Tarantino vie for director honor
China will move on yuan when stimulus packages end: banker
Pakistan keeps policy rate unchanged at 12.5 pct
Three Americans Killed In Afghanistan
Music world preps for Sunday's Grammys
Grammy weekend begins with Neil Young tribute
Crystal Cathedral makes deep cuts as revenues drop
US Marines facing a 'different war' in Afghanistan
GlaxoSmithKline to axe 4,000 jobs in US, Europe
UN chief calls for treaty to prevent cyber war
U.S. halt to Haiti evacuations stirs fears for sick |
Obama trims US space ambitions
Sudan rejects three presidential candidates
Seized North Korea arms were bound for Iran: Thailand |
Sudan rejects three presidential candidates |
Court Stops Dispensary From Selling Medical Marijuana
President Obama Orders Federal Support For State Of Oklahoma
Moderate China quake kills one: state media
US, China locked in dispute over Taiwan arms sale
Earthquake strikes southwestern China, killing 1
Malaysian court fines lovers 4 buffaloes, pig
China: U.S. arms sales to Taiwan hurt national security
Indian parents vie for nursery school admissions
US troops more than welcome in Haiti _ for now
Miss Virginia wins 2010 Miss America crown
Pakistan: 25 dead in suicide bomb, US missile hit
Seized North Korea arms were bound for Iran
Haiti holds 10 US citizens over trafficking concerns
Anger as NATO airstrike kills 4 Afghan soldiers
Cambodian, Thai troops clash on border: Phnom Penh
Books pulled from Amazon.com in pricing dispute
31 emaciated horses rescued in Ohio; 6 others die
Obama seeks $200M to help cities host 9/11 trials
Idaho man says 10 Americans detained in Haiti
Japan's listed firms keep boosting profits: report
Asia-Pacific trade deal faces skeptical Americans
China will move on yuan when stimulus packages end: banker
Michael Jackson, Leonard Cohen win special Grammys |
Winter's Bone, Restrepo win top Sundance awards |
'Winter's Bone,' 'Restrepo' earn Sundance honors
"Winter's Bone", "Restrepo" win top Sundance awards
Miss Virginia wins 2010 Miss America crown
Michael Jackson, Leonard Cohen win special Grammys
AP NewsAlert
Pat Tillman cover-up focus of Sundance documentary
Ex-Nevada deputy relieved over bribery acquittal
Rip Torn charged with breaking into Conn. bank
Egypt's veil wearers see it as barrier to harassment
Saudi couple forced to divorce reunited by court
French government on the defensive rival's new trial
Bankers leave Davos battered by blame game
U.N. official to visit North Korea next month |
Israel: Slain Hamas leader key arms smuggler
China Threatens Sanctions Over U.S.-Taiwan Arms Deal
Slain Hamas leader helped Gaza get arms
Saudi couple forced to divorce reunited by court |
Gaddafi chides African Union after leadership change |
Karzai renews call for Taliban to reconcile
Pope calls on business, government to save jobs |
Pakistan army probes report of Taliban leader's death |
Yemen clashes continue, ceasefire offer rejected |
Slain Hamas leader helped Gaza get arms: spokesman |
Obama pushes nuclear energy to boost climate bill
Haiti holds US citizens suspected of child trafficking
January death rate signal of tough year in Afghan war
Filipino troops kill 3 communist rebels in clash
UN chief to send special envoy to North Korea
China activist to end protest at Tokyo airport
UN must speak out over Cambodian rehab centres: HRW
Report: Chinese sub entered Taiwan waters
New study fails to bridge Japan, China history divide
Experts: US arms deal won't hurt Taiwan-China ties
Mexican president in Japan for three day visit
S.Lanka premier targets army officers: source
Pakistan: Mule steps on land mine, kills 2 troops
India shifts monetary gears as economy rebounds
China's online travel market booming
Japan carmakers must restore reputation: media
It's ladies' night at the Grammys |
Bigelow wins Directors top award for Hurt Locker |
Actor Rip Torn arrested drunk, armed in Conn. bank |
Kathryn Bigelow tops directors with `Hurt Locker'
'Hurt Locker' director wins key Oscars indicator
Actor Rip Torn arrested drunk, armed in Conn. bank
In Italy, 'Madonna hospital' cares for quake-damaged art
Thousands attend 'Lost' sneak preview
Mormon role in gay marriage ban scrutinized at Sundance
'Restrepo,' 'Winter's Bone' take top Sundance honors
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01