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Article: Central bankers find neutral turf in Basel

Article from:
International Herald Tribune
Article date:
June 21, 2007
Author:
Copyright

John Fraher
International Herald Tribune
06-21-2007
Six decades ago, the U.S. Treasury wanted to shut down the Bank for International Settlements, saying it helped finance the Nazis. Today, Jean-Claude Trichet, the president of the European Central Bank, and Ben Bernanke, chairman of the U.S. federal Reserve, are transforming the organization into one of the world's most powerful networking clubs. With hedge funds and private equity firms pumping record sums of money around the world economy, central bankers fret that investors are taking on too much risk. As a result, the bankers are increasingly turning to the BIS, the oldest international financial institution, for research and advice, ...

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