Friday, 13 July 2012
Geithner's Choice: Seven And A Half Things To Know
"Let's say you're one of the most important banking regulators in America, and you get word that some of the world's biggest banks are manipulating an interest rate that affects borrowing costs throughout the economy. Do you: a) leap into action and not rest until the problem is solved, or b) write a strongly worded memo and then hope for the best?"
Let's say you're a financial journalist at one of the most important media outlets in America, and you get word that an interest rate that affects borrowing costs throughout the economy is set by self-report from some of the world's biggest banks; banks that could be damaged if they tell the truth when setting this rate.
Do you: a) leap into action and write lots of stories about it, or b) wait 10 or 15 year, hoping for the best, until someone from inside the banks spills the beans and forces you to write something?
# posted by Had It in Holland Park @ 20:47 
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