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I don't know the details of prudential regulation in Spain, I assume that the Bank of Spain is the sole/lead prudential regulator for the banking system.

Of course, in the US, with an undersized banking sector and oversized capital markets, just doing that for banks would not have sheltered the US from the current Panic, but it still would have reduced the exposure for banks as such.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Oct 10th, 2008 at 11:01:10 AM EST
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