The attached proposals from Angela Merkel at last would put some integrity and rules back on the financial markets. The EU competition high commissioner Neelie Kroes will not sign off on any EU bank requesting aid that doesn’t open its books to the full. It looks like we need more women in charge to bring some ethics back to the markets. Let’s see whether the G20 will overcome the financial institutions lobby.

Too long the Shadow Banking System, Dark Liquidity Funds, malign tumors grown to at least 10 times the size of the official Banking balance sheets have gotten away with naked short selling, front running, insider trading, and dozens of other devious tricks to defraud the small investor, their market operations and manipulations being essentially outside of the market statistics and reporting with the unspoken consent of the regulators, the governing entities and the law makers ruled by the 40’000 lobbyists financing their re-elections.

http://www.spiegel.de/international/...