to hell with Dodd-Frank and Basel III, says the empire

Banks Find Loophole In Capital Rules (WSJ)

Barclay's wants to skate on the thin ice of sub 2% capital reserves, to hell with Dodd-Frank and Basel III - the Rothschild era financial empire (only ignorantly described as free market capitalism) was built on fractional reserves, sovereign debt and warfare anyway, so why would they want to change what works so well for them? I think they will work the formula to death, quite literally, history does not indicate any probability of self-correction, only obstinacy in a dogged resolve founded on error but cultivated over millennia  - theft is an adequate method for acquiring wealth, but never wisdom

all that is needed is for the professional ignorami of the economics community to keep parroting self-serving lies about the "market failures", the pernicious "runs on banks", the frequent (completely rational) "panics" that reserves are vaporous, the need for sovereign theft of capital on behalf of  the mythic "stability of the system", and soon enough the Keynesian dream of a global monopoly fiat currency system will be in place - a few libertarians hollering at the gates of democracy are hardly a cause for concern to the high and mighty, are they? a few well-aimed bullets, a few prison sentences, perhaps a dictator or two, perhaps a new populist utopia (Wanted: charismatic global messiah for environmentalism; prior knowledge not critical, relevant training will be provided, long hair is preferred) and poof! the problem disappears, right? :)

UPDATE from FT:

Lehman seeks $10bn clawback in Barclays suitBy Greg Farrell in New York
Published: November 17 2009 00:48 | Last updated: November 17 2009 00:48

Attorneys representing the estate of Lehman Brothers filed a lawsuit on Monday against Barclays Capital, seeking to claw back as much as $10bn (£5.9bn) that it claims was transferred to the UK bank last year in the frenzied days following Lehman’s bankruptcy.
The suit is the culmination of a one-year quest by Alvarez and Marsal, the consultancy hired by Lehman following its sudden bankruptcy filing in September 2008, to determine whether billions of dollars worth of assets were improperly transferred to Barclays when it negotiated a deal to acquire the remains of Lehman.