Basel's not faulty
Basel II has attracted its fair share of criticism in the wake of the financial crisis. Ahmet Yetis argues much of this criticism is unfair
A lot of things have gone wrong for the global markets to get to where they are today. As experts debate what caused the current crisis, Basel II has taken much of the blame. It has been criticised for failing to prevent the financial meltdown and for being incomplete and pro-cyclical. Some industry practitioners have even called for its replacement.
Has Basel II failed because it did not prevent the financial meltdown? No. The bubble had been forming for most of this decade, whereas Basel II
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