InfoAnda - Get rich quick trumps market reform: analysts

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

Dutch prince in critical condition after Austria avalanche | | 17 February 2012
Dell unveils new servers, says not a PC company | | 28 February 2012
Greece lets Gaza activists disembark from ship | | 14 November 2010

Lagerfeld makes nice with Adele. Singer proud of her body | | 10 February 2012

Forum Views () Forum Replies ()

Read more with google mobile : Get rich quick trumps market reform: analysts

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 Weekend Edition Singapore Asia Pacific World Get rich quick trumps market reform: analysts AFP - 2 hours 16 minutes ago Send IM Story Print Get rich quick trumps market reform: analysts Slideshow: Full Photo Coverage: Business & Economy PARIS (AFP) - – The Group of 20 countries, meeting next week, were supposed to have stamped out the financial market abuses at the heart of the global crisis but little seems to have changed since their last summit, analysts say Hopes for reform after the market chicanery that brought down a series of 'too-big-to-fail' banks and sparked the worst slump since the 1930s have faded with the return of the 'get rich quick' mentality, according to analysts. "The bad old habits have come back much faster than was expected," said Denis Marcadet of Vendome Associes in Paris. "Make a lot of money and quickly," is the refrain again, he said. The G20 rich and developing major economies have made reform of the financial markets a key objective but analysts say that good intentions are failing to keep up with reality. "Nothing has changed, if it is only that the banks now give the appearance of being much stricter so as not to get splashed all over the front pages," said Eric Singer of Singer and Hamilton, a head-hunting agency specialising in financial services appointments. Derivatives -- complex and often highly speculative investment instruments blamed for much of the turmoil and damage -- continue to be widely used and traded with little meaningful regulatory oversight. "Sure, there are fewer (derivatives) now than before the global crisis but they are still as much in use. Some seven trillion euros (9.9 trillion dollars) are out there," said Olivier Huneau, a dealer at www.nouveautrader.com Uncontrolled speculative trade in derivatives sank US investment banking giant Lehman Brothers in late 2008, setting off a chain reaction that brought the global financial system, and then the economy, to its knees. Never again, said the politicians and regulators, but two years on what has changed? The bonus culture, said to have encouraged too much risk-taking, seems alive and well, analysts said. This year, the banks, brokers and finance houses will pay bonuses worth some 144 billion dollars to staff, according to a Wall Street Journal study. "We have undoubtedly made a lot of progress, on paper, but much of it is just window dressing," said Pierre Ciret, economist at Edmond de Rothschild Asset Management. Ciret said the banks, many kept afloat by massive government support, need to be closely scrutinised because, if they are more careful now, "that will all change once their balance sheets are sorted out." Singer said the authorities do not understand that speculative bubbles can now build very quickly, meaning that regulators have to anticipate more. At their 2009 summit in Pittsburg in the United States, the G20 called for increased oversight of derivatives markets, trader salaries and bonuses along with reform of the ratings agencies -- to make them better monitors of credit risk -- and curbs on proprietary trading, where brokers trade for themselves not clients. But other reform measures appear more distant. New rules proposed in September by the Basel Committee of international regulators to strengthen the capacity of banks to confront future crises do not take effect until 2013. Another initiative to improve the quality of bank equity holdings will not become operational until January 1 2015. Nevertheless, bank lobby groups have been active on the sidelines, arguing that too severe a tightening of regulations could hobble lending and pose a threat to the global recovery. Recommend Send IM Story Print Related Articles Dollar fall unlikely to lead to peg rethink-GCC SecGen Reuters - 15 minutes ago Dubai's Arabtec Q3 profit slumps, below forecasts Reuters - 42 minutes ago Zain board meets to discuss opening books Reuters - 1 hour 16 minutes ago Coal India issue could boost future state sales AFP - 1 hour 37 minutes ago Azerbaijan election to extend rule of Aliyev party Reuters - 2 hours 7 minutes ago News Search Top Stories Fed not in the business of inflation: Bernanke Yemen orders arrest of US-born cleric Awlaqi German protesters mobilise against nuclear waste train Kubica tops final practice in Brazilian GP Dell has not ruled out going private, CFO says More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended World's oldest axe found in Australia Dell has not ruled out going private, CFO says RBS bank plunges back into loss NASA comet fly-by yields rare images from deep space Atom smasher ventures deeper into 'new frontier' More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France Spectacular unknown species found in Amazon Ancient galaxy is more than 13 billion light years away Moon's 'treasure chest' includes silver 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 Weekend Edition 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 Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Sunday, 7 November 2010
German protesters mobilise against nuclear waste train
NATO: Afghan soldier may have killed 2 NATO troops
Gunmen block roads after Mexican drug lord killed |
Pope warns of 'aggressive' anti-priest culture in Spain
Israel's Barak not optimistic about Iran talks |
French take to the streets again for fading pension protests
Germany minister now warns of terror attack threat |
Kubica tops final practice in Brazilian GP
Top Russian journalist in coma after attack
Mass German anti-nuclear rally against waste shipment |
French pension protest shrinks as unity frays |
Ivory Coast overrules poll result challenges |
Vietnamese police detain government critic: state TV
England taught lesson by clinical All Blacks
Beale inspires Wallabies to rugby win over Wales
Arrests made over Afghan U.N. raid
Obama wins India business
Book prize on a platter for France's Houellebecq?
Portugal hopes to reap benefits from Hu's visit
BP to sign exploration deal with Chinese company: report
China's Hu seals France ties ahead of G20
'Peer pressure' will police currency deal: S.Korea
S.Korea's Lee sees peer pressure enforcing G20 deal
APEC pledges cooperation to protect growth
Leader hails strong Taiwanese economic recovery
Reports Afghan soldier shot foreign troops probed
Myanmar votes in first election in 20 years |
German protesters mobilise against nuclear waste train
U.N. rejects south Sudan calls for peacekeepers
AFP, EFE join forces to fight piracy
Fed not in the business of inflation: Bernanke
Pope warns of Spain's anti-priest culture
Haiti dodges storm disaster as cholera toll rises |
Microsoft CEO sells 1.3 billion dollars in shares in company
Yemen orders arrest of US-born cleric Awlaqi
Bodies of 5 Afghan policemen found in east
Greeks vote in high-stake local elections |
Sister of Dutch Colombian guerrilla urges her to surrender
Awareness About Hinduism Gets Spotlight At Fort Collins
Google Maps embroiled in Central America border dispute
150 Arrested In Protest Of Police Officer Sentencing
French take to the streets again for fading pension protests
U.N. rejects south Sudan calls for peacekeepers |
China resolved to protect intellectual property: minister
Guineans set to vote in presidential run-off |
U.S. won't know pace of Afghan drawdown for months |
Azerbaijan election to extend rule of Aliyev party |
U.S. won't know pace of Afghan drawdown for months
Chinese artist blasts 'inhuman' Communist regime
First openly gay Episcopal bishop to retire in 2013
Volcano causes more flight chaos in Indonesia
United States urges Fiji to return to democracy
Dancing Obama appeals to Indian youth
NATO to keep nuclear weapons
Recalled Japanese envoy returns to Russia
Blacks struggle with 72 percent unwed mothers rate
Australia, US want China to be 'force for good'
Secret underground art show thrills New York
Indian media say Obama visit hitting right notes
Marines' leader: Keep policy on gays in military
World's tallest Jesus looms over Poland
China dissident writer to attend Nobel ceremony
American rancher buys Miracle on Ice gold medal
Clinton calls Myanmar elections sign of repression
Pompeii house collapses into rubble
Myanmar votes in election marred by fraud fears
Gates says US seeks no new bases in Asia
Home crowd expectations for badminton star Lin Dan
Clinton says Myanmar election deeply 'flawed'
Coal India issue could boost future state sales
Obama, Calderon talk after Mexican drug shootout
Get rich quick trumps market reform: analysts
US, Australia pressure Myanmar, Fiji over rights
S.Korea seeks to revive foreign bond tax -Yonhap
Report: China may tighten controls on rare earths
China's Hu calls for Portuguese cooperation on reform agenda
Greeks vote in high-stakes local elections |
Israel set to present Lebanese border plan to U.N. |
MTV Unpacks The EMA Goodie Bags
Iran says nuclear talks could be held in Turkey |
APPA Foods Recalls Chicken Pasta Salad Over Salmonella Contamination Fear
German police clash with anti-nuclear activists |
Baugher Enterprise, Inc. Recalls Baugher's Apple Cider Because of Possible E. Coli Risk
Afghan polls protesters warn of possible violence |
Early voting peaceful in Guinea election |
Apathy and allegations mark Azerbaijan election |
Israel PM heads to New Orleans to meet Biden
Thousands protest in Seoul before G20 summit |
China offers to support Portugal but no debt pledge
Islamist boycott dents Jordan polls |
Oakland residents awaken to broken windows, debris
Volcano travel chaos as ash grounds Indonesia flights
Tens of thousands rally in S.Korea against G20 summit
Korea's Shin wins Mizuno Classic golf
China to spend $4.5bn on domestic mineral exploration
Japan says it will open up economy, seek more FTAs
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	VPN on MacOSX	BlogMeter 1.01