Largest global banks to get easier treatment because they complained

Talk about living the life of Riley. All the rest of us got for this recession was, well, a recession. Must be nice to completely own the governments of the industrialized world. We really are a bunch of suckers as long as we keep re-electing the same old politicians who do this to us. And yes, both parties are the problem and guilty.

The world’s major banks are likely to get an extra capital charge in the 2 percent or 2.5 percent range, rather than the 3 percent that has been widely reported, according to officials familiar with the discussions.

The move would likely affect major global banks such as JPMorgan, Citigroup, Bank of America, Wells Fargo, UBS and HSBC.

Officials, who asked not to be named, commented after global banking regulators met this week in Frankfurt.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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