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Repeat of past mistakes fuels risk of new crisis

Jesper Berg and Hans Geeroms argue that bank lobbying has succeeded in securing a dangerous softening of rules

cycles of financial crises

The global financial crisis of 2008 is less than two decades old, yet some of its lessons are already fading in the collective memory. The financial industry, meanwhile, has intensified its lobbying efforts to weaken Basel Committee on Banking Supervision capital standards and persuade European Union lawmakers and supervisors to embrace deregulation. 

The industry has already achieved its first successes: the Bank of England lowered its capital requirements; and the European Commission postponed

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