Bankers urge G20 growth strategy, delay regulations

[Earth_First]

The IIF, the premier global lobby for the financial industry, joins a growing number of economists who warn against trapping countries in a downward spiral of cutbacks and recession.

The bankers also pressed the G20 to ease up on a push for tighter rules for the financial sector which could impair lending and have a knock-on impact on growth. They called upon policymakers to postpone by two years until 2018 imposing extra capital buffers on the world's biggest banks.

The IIF, representing 450 banking and insurance institutions worldwide, said the onslaught of regulatory measures partly accounts for a contraction in lending and urged relief.

The bankers' group laid out an aggressive program for lessening the regulatory burden, urging the following steps:

details at link: http://www.reuters.com/article/2012/02/24/us-g20-bankers-idUSTRE81N1Z420120224

[Vincardog]

1. Deregulating the Baksters caused the economic crisis in the first place. Of course they

want to delay and or eliminate any regulation that would slow their looting.

[RB TexLa]

2. They are right about slowing economic growth but the thing is, we don't HAVE to have economic growth