The Financial Times - Caroline Binham and Laura Noonam
The Better Banking Law take: It is quite grim that Basel III has conceded to banks and will permit them to rely on ratings agencies to calculate risks in their portfolios. How quickly 2008 has been forgotten.
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.
