In Japan (see box) a banking crisis that started more than two decades ago still lingers on, in part because the country's bankers have become gun-shy and tend to buy government bonds rather than lend money.And even if supervisors rule wisely, they have to keep it up year in and year out to remain effective.
What's worse is when individual items are held up to dubious inspection, amid loud calls for supervisors to rule on them.
Two years ago after Islip Town Supervisor Peter McGowan ruled that the petition to incorporate was invalid because signatures didn't comply with village law, residents sued to have the supervisor's decision overturned.
Under the old rules supervisors were simply referees trying to ensure that the game was played fairly.
Supervisors enforce other rules, ensuring a work environment almost as austere as the surrounding Mars-esque landscape.
How quickly memories fade.On January 12th the Basel committee, a club of central bankers and supervisors, released new rules that are weaker than their previous proposals (see article).
This month in Basel, Switzerland, for instance, an international gathering of central bankers and bank supervisors relaxed new rules that were intended to ensure that banks would be able to survive an event like the collapse of Lehman Brothers in 2008.
In London in April 2009, G-20 leaders took important steps, including extending the scope and power of the Financial Stability Board, which brings together global supervisors to set rules for markets and banks.
Although the majority of counties are governed by a board of supervisors, the home-rule privilege allows larger counties to entrust management to county commissioners.
It would have been far stricter than a set of rules supervisor David Chiu had been working on for the past two years with input from Airbnb.
Huge fines have been imposed on StanChart, BNP and HSBC, among others, for breaking these rules.Bank supervisors, meanwhile, have imposed higher capital standards on global banks.
