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

[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?).