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Sarkozy Calls For Increased Financial Transparency

Law360 (August 17, 2007, 12:00 AM EDT) -- French President Nicolas Sarkozy has jumped into the subprime mortgage crisis, calling for countries included in the Group of Seven to work with the International Monetary Fund to improve the transparency of financial markets.

Sarkozy on Thursday sent a letter to German Chancellor and G7 president Angela Merkel urging her to join European Commission regulators in taking a closer look at the recent subprime crisis and the role that credit ratings agencies may have played in the financial tailspin.

In the letter, Sarkozy expressed concern over...
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