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Economy

xchrom

(108,903 posts)

34. Davos 2013: IMF official says fixing banking still slow

Reply to Tansy_Gold (Original post)

Wed Jan 23, 2013, 10:41 AM

Jan 2013

http://www.bbc.co.uk/news/business-21158253

The financial industry still has a long way to go to fix itself, the International Monetary Fund's (IMF's) deputy director general has said.

Financial products remain complex and shadow banking continues to be unregulated, Min Zhu told bankers at the World Economic Forum.

He urged bankers and regulators to cooperate more closely.

But JP Morgan chief executive Jamie Dimon hit back, arguing that better - not more - regulation was needed.

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