Darling Seeks G-20 Plan to Deal With Asset Bubbles (Update2) - Bloomberg.com

Nov. 6 (Bloomberg) -- U.K. Chancellor of the Exchequer Alistair Darling said the Group of 20 nations should develop a way to tackle asset-price bubbles as the world’s leading economies recover.

“We have got to make sure we don’t get ourselves into a situation where some pressure starts to rise and then it becomes bigger and bigger and when the whole thing comes to an end it has catastrophic consequences,” Darling said in an interview with Bloomberg Television.
The comments help shape the agenda for a meeting of G-20 finance ministers hosted by Darling today in St. Andrews, Scotland. They echo calls from the International Monetary Fund and Nouriel Roubini, the New York University professor who predicted the crisis that began in 2007.


.... ‘Bubble-Building’
“We also have this concern,” Russian Finance Minister Alexei Kudrin said in an interview in London yesterday. “We need to be very careful with this huge amount of injected liquidity.”
Henrique Meirelles, the Brazilian central bank governor, told reporters on Nov. 3 in Oxford, England, that “there’s a need for international cooperation in preventing imbalances and bubble-building and some of that demands international regulation, symmetry of regulation among several countries.”

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