Posted September 12, 201113 yr Staff QUOTE: China's banks: `The fish always stinks from the head' China's chief banking regulator Liu Ming-Kang has a folksy way of explaining his work. "The fish always stinks from the head" is a favourite. This belief that regulation must focus on banks' head offices can be seen in China's zeal to enforce the Basel III rules. While there is talk in the United States and Eurpoe of easing the lquidity rules, the China Banking Regulatory Commission has been pushing ahead with a set of rules that is stricter in definitions than what has been agreed internationally...... -- UNQUOTE -- This reminds me of the same way Geomancer's view the "Head of the House" or rather; the Head of the house consists of very important organ i.e. the MOUTH of the house! Go imagine futher....
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