Sorry Wall Street, But It Looks Like The Fed Says Basel Regulations Are A Go

[Fire Walk With Me]

http://www.businessinsider.com/federal-reserve-to-embrace-basel-requirements-for-banks-2011-12

Merry Christmas, Wall Street, here's your lump of coal.

The Federal Reserve could announce its acceptance of regulations laid out in Basel, Switzerland, as early as this week, says the Wall Street Journal.

Of course, we know that this means higher capital requirements for banks across the board — something that people on Wall Street have been very vocal about opposing (see: Jamie Dimon, remember when he flipped out about a 3% surcharge on big banks?).

[banned from Kos]

1. Well, tough shit for them. btw, they are already subject to Basel - capital will just be higher now

for all banks worldwide.

Bank of America just raised $2 billion on Friday on a quick stock sale.

There will NOT be another TARP and the regulators know it.

[MannyGoldstein]

2. If this happens, we can thank Occupy

It may go away after the 2012 elections due to a hostaging, a fit of prudence, some some such nonsense.

[lonestarnot]

3. Good now

JMsJ

[no_hypocrisy]

4. What about derivatives?

Has Basel issued any regulations to curtail them?