John Carney thinks Jaime Dimon's Basel III critique is justified, if one focuses on his...

|By:, SA News Editor
John Carney thinks Jaime Dimon's Basel III critique is justified, if one focuses on his complaints about a type of debt known as covered bonds. Carney believes Basel III grants covered bonds, more widely owned by Euro banks than American ones, an excessively privileged status, one that creates systemic risk in a manner similar to MBS and sovereign debt.