An interesting graphic and text from Financial Times --

Global banking is in turmoil. The worst financial crisis since the second world war has not only forced governments across the western world to step in and rescue giant institutions. Amid the turmoil, there has also been a dramatic shift in banking’s centre of gravity.

A decade ago, a list of the world’s largest financial institutions was dominated by banks from the US and UK. Today, just a handful of the top 20 have their headquarters in the US, still the world’s largest economy. HSBC, at heart an emerging markets bank, is Britain’s sole representative.

Use this graphic to examine the trends. Move the slider to see how the ranking of the top twenty financial institutions, according to market capitalisation, has changed over the last 10 years. Click on a bank to trace its particular experience. Hover over it for more information.

http://www.ft.com/cms/s/0/ea450788-1573-11de-b9a9-0000779fd2ac.html

sorry -- they just placed a firewall on it.

The largest banks will be in places that let you dump money. Some sweeten such a deal with the laissez faire approach toward lax regulatory function.

Bahamas, Luxembourg.

Money laundering is what's for dinner.

In conventional medicine, it is assumed you aren't really sick
unless pathology can be found; pathology being the physical
malfunctioning of some body tissue.

What are the real results of this view? A cure rate of only 6%.
Cure being defined a restoring of an ill person to well-being.

Therefore, the pathology view, although religiously adhered to
by all medical "experts", is a fundamentally mistaken view of
illness. What is measured has nothing to do with real health, or
to do with what is the real cause of each illness.

Consider the same thing of all economists; left to right. They
may be looking at data that is irrelevant, and has nothing to do
with the real problem; thereby producing solutions that are
doomed to fail.

imo the G20 won't do anyone about creating a gobal currency this time around, they'll just lay out some "general thoughts" which will move us closer for down the road -- and it won't be that far down this crooked financial dirty road.

What happens to the sovereignty of this nation when we're bowing down to foreigners making decisions about our currency/economics?

btw, Laura Tyson is not one I trust.

Martin Wolf and Laura Tyson on the Global Financial Crisis and the London G-20 Summit is a very nice article and news.....
Awesome article and news......
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GirishLaikhra
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