The host-country participants are active in the process and, importantly, all involved are working collaboratively under the principles articulated by the Basel Supervisors’ Committee. As the home-country supervisor in the Citigroup exercise, we are organizing an outreach program to inform other host countries, not participating in the case study, of the efforts.
What is happening now is that if you have the prospect of a downturn, then inequality will become much bigger issue in the American elections. Around the world it is already a much bigger issue, including in places like Japan. The corporate boss in Japan now is paid 35 times what the median worker is paid. In America, it is 411 times."