Looks like the same bright lights who created the ideas of no money down on home mortgages and "you tell us what you earn - wink, wink", are at it again, this time at the Federal Reserve. Capital requirements for banks? What for?
Look here.
Now would you want to put your savings in a bank that didn't have any capital in reserves? Isn't fractional reserve banking already a shaky proposition when banks start to have less than 20% in reserve capital?
It's just another sign of the Alice in Wonderland thinking that is taking us further off the surface of this planet and closer to much bigger financial chaos.
