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News Link • Economy - International

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

 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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