I must confess to confusion over the following link:
Does Nicolas Sarkozy wish to suggest that business is not regulated? Every financial institution, including the ones on Wall Street, are audited at least once a year. Each corporation has a governing Board. All management teams report to their stock owners once a quarter.
The Basel norms for prudent banking and investment have been around for years. The United States stands out for refusing to comply with professional safeguards for banks.
What will a new world summit achieve? I think it is better to merely ask regulators to do their jobs. This is important for stock markets, because each exchange has its own regulatory mechanism. NASDAQ stands out for being ruthless in de-listing corporations that do not meet regulatory norms. It is different from the NYSE in this respect.
A first step that all of us can take is to switch our investments to stock exchanges that are professionally managed. The stock market is an adequate model of the 'regulated capitalism' that Nicolas Sarkozy would like to reinvent.
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