Bank of England

Wall St. Faces Mounting Criticism From Regulators

The New York Times - William D. Cohan

The Better Banking Law take: Cohan accurately outlines ethical issues and cultural flaws that Wall Street must address. In particular, we applaud Mark Carney's critical perspective, as he said:

“Virtue cannot be regulated ... Even the strongest supervision cannot guarantee good conduct. Essential will be the rediscovery of core values, and ultimately this is a question of personal responsibility. More than mastering options pricing, company valuation, or accounting, living the right values will be the most important challenge” for Wall Street.
 

UK Bank Regulators Too Need Incentives To Do The Right Thing

The Financial Times - Daniel Davies

The Better Banking Law take: Regulators must take a stand in good times, when banks are strong and regulation is unpopular, as well as bad times.

Bank of England to Toughen Stress Tests for Large U.K. Banks

The Wall Street Journal - Margot Patrick

The Better Banking Law take: Bank of England's tougher stress tests for top 7 UK banks are indeed a key tool to avert another financial crisis.