madam president there is a grave danger of rushing to excessive misguided regulation and to unintended consequences
an example in the new capital requirements directive is the proposed five retention of securitisation proceeds
this will only clog up credit creation
lack of securitisation possibilities is the principal reason that credit has dried up now
we need the banks to lend but no this misguided principle which lacks an impact assessment will prevent a restart of securitisation and the credit which our business and industry so badly needs
ask the motor car industry how it will prosper if securitisation is snuffed out
that is only one example
if we suspend true and fair accounting if we go out of our way to kill hedge funds and private equity and incentives to innovators risk-takers and even bankers as mr schulz and the socialists require we will only delay and kill altogether that recovery
