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- U.S. unemployment falls to 7 percent as 203K jobs added
- World mourns Nelson Mandela and celebrates his life
- Bill O’Reilly reminds: Nelson Mandela ‘was a communist’
- John Boehner says GOP should support gay candidates: ‘I do’
- Grass-Whopper: Pan-fried cricket burgers go over big in New York City
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- Ex-Secret Service agent seeking Md. seat: Everyone’s a ‘de facto criminal’ now
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Independent voices from the The Washington Times Communities
Topic - Stephen Cecchetti
Commenting on America's "fiscal cliff," Jay Leno observed, "It's 4 a.m. for our economy, and Lindsay Lohan is behind the wheel." Just a few days before Jan. 1, there is no solution in sight, and both sides of the debate seem deeply entrenched in their positions.
Global policymakers insist that the Federal Reserve's failure to implement new banking rules on time is nothing to worry about, but critics of the international plan to strengthen the financial system say this is evidence it's falling apart.
In fact, most banks are in "good shape" and are already prepared for Basel III, he added.
"In the case of many banks, they already meet the 2019 standards, so they don't have to do anything," he explained. "This is not an issue."