US warns against light touch bank rules that ‘ended tragically’ for UK
Jun 7th, 2011 | By | Category: NewsUS treasury secretary Timothy Geithner wants global regulations The US urged other countries to avoid a “race to the bottom” with new financial regulations – and pointed to the experience of the UK to show the dangers of experimenting with “light-touch” rules. Tim Geithner, US treasury secretary, said the UK’s strategy before the banking crisis had ended “tragically”
