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To: Bobby Yellin who wrote (41646)9/30/1999 8:04:00 PM
From: goldsnow  Read Replies (2) | Respond to of 116762
 
Let me place another 2c in search for the coherent answer to why CB's moved..

Reform of the private banking sector has also been
hampered by disagreements among the world's leading
banks.

In particular, Germany's Deutschebank has accused
reform proposals so far of favouring US banks over their
European rivals.

It says that the lack of a formal consultation mechanism
means that US banks get information about possible
defaults earlier than those without good contacts in
Washington.
news.bbc.co.uk