Beggar thy neighbour, 2012

WASHINGTON The Federal Reserve is proposing that large foreign banks keep a bigger financial cushion against unexpected losses for their U.S. affiliates.

http://m.cbsnews.com/storysynopsis.rbml?pageType=moneywatch&catid=57559300&feed_id=76&videofeed=43
This is a blatant act of economic xenophobia. If adopted, this measure is as aggressive a form of beggar thy neighbour as occurred during the 1930s Depression.

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