The financial sector is worried that the plans will restrict lending and make credit more expensive.
And this is bad how, exactly? The financial sector is collapsing because of cheap credit. You'd think that given their inability to restrain themselves they'd be at least happy to have uniform rules applying to them... but no. Greed is overwhelming. In the long run, we're all dead. John Maynard Keynes
You'd think that given their inability to restrain themselves they'd be at least happy to have uniform rules applying to them
You'll still have business in a recession, but they live for the 'growth phase' of the wholly speculative 'business cycle'. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
