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Is there a bank failures' law?
BCCI, BARINGS, PALLAS STERN, the banks’ failures list at the end of the twentieth century is long, without even noticing the “saving and loans” crisis or the crisis of the Japanese bank system (or the non-banks’collapse like LTCM or ENRON).
What must be done inorder to solve this?
Law may be a solution, it brings legal security which is necessary toan activity based on the credit, that is to say based on confidence. Thus, according to questions raised by successive failures, legal solutions have been proposed by the practisioners and adopted by the successive legislators. Step by step, a "bank failures' law" has emerged not only in France but also on an European Community level. Law becomes thus a preventing, punishing or regulating tool.
>>> see more... _
BCCI, BARINGS, PALLAS STERN, the banks’ failures list at the end of the twentieth century is long, without even noticing the “saving and loans” crisis or the crisis of the Japanese bank system (or the non-banks’collapse like LTCM or ENRON).
What must be done inorder to solve this?
Law may be a solution, it brings legal security which is necessary toan activity based on the credit, that is to say based on confidence. Thus, according to questions raised by successive failures, legal solutions have been proposed by the practisioners and adopted by the successive legislators. Step by step, a "bank failures' law" has emerged not only in France but also on an European Community level. Law becomes thus a preventing, punishing or regulating tool.
>>> see more... _
