ABSTRACT
We pose this question, obviously, for the sake of argument. At this juncture, nothing can endanger the Basel 2 effort: “rien ne va plus, les jeux sont faits.” Really? In 2007 American regulators have proposed changes in their version of Basel 2 that will delay its implementation until at least January 2009. Alas, the accord intended as a single worldwide standard is threatened to be different in Europe and America. Posner (2004, 217), an American judge and scholar, says: “As the world’s most powerful nation, the United States tends to dominate international organizations, and, when it does not, it ignores them with impunity.” Then there is the credit crisis starting in 2008 bringing regulation to the limelight.
