Bernanke, Trichet Turn to BIS as Investors Ignore Warnings on Global Risk

(Bloomberg) -- Six decades ago, the U.S. Treasury
wanted to shut down the Bank for International Settlements,
saying it helped finance the Nazis. Today, Jean-Claude Trichet
and Ben S. Bernanke are transforming the organization into one
of the world's most powerful networking clubs.

With hedge funds and private equity firms pumping record
sums of money around the world economy, central bankers fret
that investors are taking on too much risk. As a result, the
bankers are increasingly turning to the Basel, Switzerland-based
BIS, the oldest international financial institution, for
research and advice, and to coordinate damage-control plans.


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