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Group of 30 and Financial Systems Research

  1. Jan 15, 2009 #1


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    Group of 30 - http://www.group30.org/
    This group has some very intesting publications, e.g.

    The Structure of Financial Supervision: Approaches and Challenges in a
    Global Marketplace

    Global Clearing and Settlement: Final Monitoring Report

    Paul Volcker was interviewed on Marketplace this evening. He and the Group of 30 call for big reforms!

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  3. Jan 22, 2009 #2


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    "Volcker is part of the Group of 30. Its members are corporate leaders, academics and former regulators. Today they proposed stronger oversight of "systemically important" institutions. That is, banks, hedge funds and insurance companies whose failure could compromise the entire financial system.

    Volcker says Adam Smith advised never letting an institution get that big.

    VOLCKER: I think that advice, which may have been suitable for 1776 in Scotland, would be a little hard to apply in the United States and other modern economies."

    Interesting point. Reforming the rules governing corporations has become an issue of survival. It's a bit like trying to reform Baseball. Where are the smart practical imaginative ideas going to come from?

    I didn't know about this Group of 30. Thanks for posting the links.
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