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Trichet will become chairman of the new European Council on Systemic Risk, in charge precisely of watching for bubbles in asset markets.

You've got to be kidding me - the guy already presided the committee that came up with the Basel III recommendations and seems to think that the capital adequacy bromide they came up with is sufficient to guarantee financial stability.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Carrie (migeru at eurotrib dot com) on Wed Dec 8th, 2010 at 04:42:00 AM EST

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