Bank CEO Says What?

September 30th, 2009 by Jason · 1 Comment · all ur bankz, regulatin

pinkys_plan

So John Mack revealed himself as an Elder of Zion or an Illuminati or something, in an interview with Bloomberg TV, by advancing the idea of a single global bank regulator. New World Order: it’s not just a Ministry song anymore!

“A better system would be one uber-regulator,” Mack said in an interview in New York for Bloomberg Television’s “Conversations with Judy Woodruff,” parts of which will air today. “We do need an overall systemic-risk management that everyone buys into. It’s not a U.S. systemic boundary — it’s a global systemic risk manager.”

A global regulator would ensure that U.S. banks aren’t subject to tighter regulations than the rest of the world, Mack said. A push for regulation during the financial crisis has weakened as the administration of President Barack Obama pursues other tasks, he said.

Nutjob conspiracy theories aside, this isn’t exactly a new idea. Timmay expressed a similar sentiment over a year ago, even before the you-know-what hit the fan. The UK’s Financial Services Authority did the same back in March. It’s just a little strange to see a banker pushing for it. I am to understand that this makes him a traitor to capitalism and to America itself.

But if, indeed, we are to welcome our new financial overlords, LOLFed would like to humbly offer a suggestion for the first global regulator chairman for life:

hank_burns

What can we say? We miss the guy.

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