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By Leon Mangasarian
Sept. 25 (Bloomberg) — German Finance Minister Peer Steinbrueck said the U.S. will lose its position as the world’s undisputed financial “superpower” and called for a ban on speculative short-selling to help restore the global economy.
Steinbrueck, in a speech on the financial-market crisis to lawmakers in Berlin today, set out an eight-point plan urging greater regulation and larger capital reserves for banks. He championed the German banking system over its U.S. counterpart, dismissing the “Anglo-Saxon” model as having “an exaggerated fixation on returns.” Read More…
Posted under Economy, Politics
This post was written by admin on September 24, 2008
