“What has been decided is what’s necessary for all banks at a global level,” Trichet said. “We’re in a global economy, which is a pertinent entity economically and financially, and we have to get a level playing field.”
Ok, that’s an international agreement.
The Constitution says (Art 2 Section 2), on The Presidency (Executive Branch):
He shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur…..
So while Trichet can express his hopes all he wants, I must ask:
Do we still have a Constitution, in which advice and consent of 2/3rds of the Senate is required to form a binding agreement between nations, or will President Obama and Treasury, along with Ben Bernanke, once again treat the US Constitution as toilet paper?