Why new banking rules are so important

Extract . . .

“Credit (please) where it's due: on Thursday, yesterday and today, the BBC has covered the historic agreement on new capital and liquidity rules for banks in the main body of its bulletins. It's a certainly not the easiest story to explain, but it's hard to think of one of more importance to our future prosperity.
So I regard it as something of an achievement that the BBC has provided its reports outside of the ghetto of specialist financial news. Which is not true of many mainstream news organisations (the FT and Wall Street Journal are of course splashing the story). I don't suppose most British people, including our lawmakers, would therefore have much of a clue that agreement has been reached on the most important global initiative to learn the lessons of the 2008 banking crisis and correct them.”
Linkhttp://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/09/why_have_we_left_bank_reform_t.html