Just to add a bit of balance to the article above.
The G20 member nations and 8 others (6 in Europe, 2 in Asia) are addressing the issues under the voluntary governance mechanisms of the Basel Committee on Banking Supervision. Hence the emergence of Basel 1, 2, 3 (current framework being implemented), and 4 (anticipated).
Heaps of info is available on BCBS' website; it's dry stuff if your brain is not hardwired for appreciating a volume of numbers, ratios, formulas and equations. As mine is, I find it compelling reading, much like a PD James whodunnit novel (dark and depressing; focussing more on the complex human condition faced by the characters than on the thrill of solving the mystery). Currently and in the near future, the global financial situation is not dire. Yet.
But I also like good conspiracy theories, as much as a whodunnit. Almost in the same genre, these two. Cheers.
