Again... An overwhelming majority right now don't want any mess with the basel 3 stuff and there won't be any. Bottom line is that. Now why? I can go through it again and again but I don't see what u gonna do out of it, u know. The targets are first no more taxpayers bailouts for obvious motives linked to sovereign debt level and deficit control, second, may be the most important restore public trust in the financial institutions through 2 sets of policies, 1) we need retail banking to change specially in continental europe where the consumer's level of protection is a catastrophy (no securities act, outrageous fees, retail banking staff risk ignorance and outrageous hard selling of phony products) leading to a widespread public suspicion with catastrophic consequences on the consumption of financial products.2)better funded investment banking acting more responsibly towards both investors as well as market integrity.
Basel 3 may not be perfect but right now we are a majority to think it has what is needed to restore healthy balance sheets to allow credit growth in the future as well as speed institutions policies review to promote responsible banking the public expects.