Banks oppose bank regulation. News at 11.
Mike and Karl are better equipped to evaluate the piece on the merits, but I'm mostly interested in the press strategy behind it. Who on the Citi public relations team thought that having a well-known, and widely resented, bank CEO attack bank regulations would be effective? Who did they think would be persuaded by that?
I can understand the logic behind urging a think tanker to write an anti-Basel piece, or sending anti-Basel talking points to opinion journalists. But everyone reading the op-ed knows that Pandit actually opposes bank regulation because he wants the bank he runs to make more money. That's fine so far as it goes, but it's unclear why anyone who is not an employee or shareholder of Citigroup would find it a compelling reason to oppose Basel III.
Dylan Matthews is a student at Harvard and a researcher at The Washington Post.
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