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Read the attached WSJ article Two cheers for the new bank capital standards. According to the author, what are the major problems of Basel I?

Read the attached WSJ article "Two cheers for the new bank capital standards." According to the author, what are the major problems of Basel I? What is the author's assessment of Basel ll? (Make sure you mention what Basel II has accomplished and what need to b according to the author) (10 points) 4

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