Von Aldo

Morgan Stanley's Mack Welcomes Regulation by the Fed

Because being too big to fail may beat being broken up? See more tonight on Bloomberg. This should be interesting. That's not the song some of Mack's peers in Europe are singing. From yesterday's FT: "Emilio Botín, chairman of Spain's Santander, the biggest bank in the eurozone by market capitalisation, defended the role of large international banks and warned that 'indiscriminate tightening' of rules would be counterproductive." Adds HSBC's chairman: "Cumulative enhancement of capital ratios at the wrong stage of the economic cycle could easily withdraw credit from the economy and cause a new credit crunch."

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