Via DealBook.
“Many policy makers are seriously scared of making fundamental decisions,” Mr. Snower said. “People in the banking industry have an interest in making the situation seem complex and difficult, even if it isn’t.”
Bankers argue that there has already been plenty of new regulation and warn of a credit squeeze if there is any more.
“There can be no doubt that these reforms will have significant consequences for the financing of the real economy,” the chief executive of Société Générale, Frédéric Oudéa, said in a statement Monday.
“As we see it, the regulations challenge the transformational role performed by banks, whereby individual savings can in turn ensure the funding of corporate investment,” said Mr. Oudéa, who also oversees regulatory issues for the Institute of International Finance, an industry group.
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