Basel Faulty Simpler rules for bank regulation,please

The intense scrutiny undergone by the financial sector will reach a hiatus in 2004. Regulators will have learnt that they cannot, by prescribing ever more complex or draconian rules, prevent financial companies from taking disastrous risks, or form exploiting privileged information and diddling their customers. Those two dangers, which have preoccupied bank supervisors since the collapses of Long-Term Capital Management in 1998dan Enron in 2001, are inherent in the financial business and cannot be magicked away.