Sixty-four years ago at a conference in Bretton Woods, New Hampshire, the foundations for post-war international finance were laid.
The year in which Bretton Wood conference was held and two global financial institution World Bank and IMF were created.
There where expectation that G-20 summit will lead to a new Bretton woods . However , the expectation were not met in the G-20 summit these year at 14th and 15th Novembor.
However , the leaders are concerned , as the amount of bad debt increases in US market which have crossed $1 trillion which created ripple effect in the entire global economy.
Suddenly the regulators have started finding out the fallacy of the financial risk management practices of Financial institution which originated these scale of Bad debt which has paralyzed the entire the global economy.
What kind of new regulatory systems can be implemented which maintains the free-market environment and also does not lead to excessive amount of bad debts that will lead to toxic assets?
G-20 didn't have the answer and it requires the financial rules to be rewritten to create the answer.