Soros warning that financial reform still exist risk loopholes

U.S. Eastern Time October 11 (Beijing Time October 12) news, George Soros, Stiglitz pointed out that the financial reform and other financial giants are still "can not avoid risk" vulnerabilities, and warned financial institutions too big to not only lead to failure and a negative knock-on effect.
Recently, the "Financial Times" in New York "future finance", the International Conference George Soros, the Nobel laureate Joseph - Stiglitz said at a panel discussion: financial reform, there are still "can not avoid risk" vulnerability.
Group is the core issue of discussion whether the new Basel II makes today's financial system more secure. September 12, after nearly nine months of consultations, the Basel Committee on Banking Supervision of 27 member economies to reach a new agreement together, "Basel III", aimed at strengthening the capital requirements for the global banking system.
When Soros raised the question how to avoid the risks that lead to heated discussion participants. Stiglitz said that despite the proposed Basel II minimum capital requirements for trying to avoid risks, it is still problematic financial institutions rely on the financial model.
On Wall Street "perverse incentives", Stiglitz is a common mistake that this perception of risk, which would make Wall Street have an opportunity to use regulatory loopholes and to transfer risk to the taxpayers head end.
Soros, Stiglitz warned that the future of financial institutions are still too big and the financial risk of failure, and the risk will cause a negative chain reaction. Soros said the economic crisis, the current regulation has yet to make any effective control.