by Moe Bedard
WASHINGTON – As Congress this week inches toward a new set of rules to avert another global financial collapse, it is focused on two conflicting goals: reforming the banking system to protect consumers while still giving lenders the freedom to take risks.
So far, the score looks like: Bankers 1, Consumers 0.
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by Moe Bedard
The “snooty” attitude of bankers and financiers who thought they were cleverer than everyone else is largely to blame for the global credit squeeze “disaster”, Germany’s finance minister has said.
In an interview with the Financial Times, Peer Steinbrück played down the impact on Europe’s largest economy of the turmoil but said steps had to be [...]
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