Lewis Kaden’s 5 Pros, 5 Cons
On Financial Reform

Citigroup vice chairman Lewis B. Kaden gives his view of five positive contributions from financial reform proposals under development in the U.S. and in Europe and five areas that require “a great deal of further study.’’

NEGATIVE #2. The Prospect of Inconsistency.

From accounting practices to derivatives regulations to structural reforms, convergence and consistency between the U.S. and Europe could prove elusive. If the rules of the road are different in different parts of the world, “anti-competitive imbalances” will ensue.

“Both sides of the Atlantic seem to be skeptical of what is likely to happen in the other place,’’ he noted. Yet those two sides are fairly closely aligned on Basel rules, for instance. The lack of consistency widens when you get to the rest of the world, he said.


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