International Representatives Demand to Oversee U.S. Markets

September 3, 2007
From theTrumpet.com

The unfolding “made in America” worldwide subprime mortgage crisis has foreign bankers demanding international regulation of American markets, banks and rating agencies. By Robert Morley

In his foreign-policy speech on August 27, French President Nicolas Sarkozy called for an enhanced global rule book to avoid financial crises. Sarkozy, who has vowed to “moralize financial capitalism,” said such crises could reoccur if “the leaders of major countries” did not take “concerted
action to foster transparency and regulation of international markets.”
International bankers and investors from China to France and Germany have lost billions of dollars because U.S. investments, sold as safe, turned out to be far riskier and worth much less than what American investment-rating agencies and banks led them to believe. They don’t want to be deceived again.

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