“Now the world need a new openness in international finance that would require private financial institutions to disclose far more information about their loans around the world and force investors to pay their share of the cost of bailing out troubled nations. The global economy cannot live with the kinds of vast and systemic disruptions”
Was the word above a criticism to Wall Street’s practice of slicing and hiding risky investment among myriad of exotic financial engineering that caused recent financial meltdown?
Nope, it was Robert E. Rubin, US treasury secretary in Clinton administration, pointing out weaknesses in Asian countries ‘ financial system including Indonesia ten years ago (original article here).
Touche!
2 comments:
pertamax..
salam kenal
Post a Comment