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News Link • Economy - International

‘Too big to fail’ banks are going back to the casino with your money

• globalpost.com
 Global political, economic and business leaders converge on the Swiss Alpine village of Davos Wednesday in what's arguably the world’s premier networking circuit — the annual World Economic Forum.

But whatever lofty pronouncements issue forth from the world leaders who attend the three-day meeting, nothing’s likely to trump what a little-known bureaucratic agency did in another Swiss town, Basel, just 10 days earlier.

That’s where the Basel Committee on Banking Regulation, a global club of central banks that attempts to coordinate policy across international markets, threw in the towel Jan. 12 on one of the most widely promised reforms of the post-Lehman Brothers era: forcing the biggest banks to keep more cash on hand in case of crisis.

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