The Economist has an article on what to expect at the November 15th world finance meeting. Drezner is pessimistic:
...the basic conundrum is that governments would like to regulate financial institutions in such a way that private capital does not come up with a way to evade those regulations and engage in the exact same activities with a lower regulatory cost. In the history of financial regulation, however, private capital has excelled at regulatory avoidance. Given the complexities of financial markets, I have every confidence that even if the G-20 were to agree on common standards, they would not be airtight. The loopholes that would be found would let the air out of any governance balloon that was inflated.
This article available online at:
http://www.theatlantic.com/daily-dish/archive/2008/11/g-20/208608/
