The latest wheeze from the Moody's ratings agency that it might downgrade RBC, Canada's largest bank, is comparable to the fevered activity of Balinese pool boys trying to rearrange deck chairs in the middle of a force-5 Typhoon.
Managing Partner, Recovery Partners
Alex is the founder of Recovery Partners and has more than 20 years of experience in investment management, M&A and advisory work. Alex was formerly a Managing Director of Bankers Trust and prior to that he was with Nomura's Investment Banking Division, a member of the European Management Committee at NIplc and Chair of the Emerging Markets Trading Committee.
While the knee-jerk press reaction to the defeat of the Government's efforts to get Supreme Court blessing for the creation of a national securities regulator to supersede the current patchwork of provincial regulators suggests that this was a catastrophe for the Feds -- nothing could be further from the truth.
12/22/2011 07:30 EST
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