A small price to pay not to be this guy.
Banking behemoths led by HSBC Holdings Plc (NYSE: HSBC) and JPMorgan Chase & Co (NYSE: JPM). now know the cost they’ll have to shoulder so the global financial system doesn’t have another Lehman moment. The Financial Stability Board, created by the Group of 20 nations in the aftermath of the crisis, published its plan for tackling banks seen as too big to fail...The shortfall banks face under the 18 percent measure ranges from 457 billion euros to 1.1 trillion euros ($1.2 trillion), depending on the instruments considered, according to the FSB. [Bloomberg]