This gives urgency to an effort already under way: the National Governors Association (NGA) and the Council of Chief State School Officers (CCSSO) are in the midst of drafting common standards.

ECONOMIST: The long, slow effort to set standards

The Basle proposals mark the first time emerging economies have been involved in the drafting of global banking standards.

ECONOMIST: New crises, new rules

In October the American National Standards Institute accepted a proposal to develop a system of quality standards to be dubbed AT 9000. (AT stands for automated trading.) Kumiega, Van Vliet and a handful of others, including finance industry professionals, belong to a working group that is drafting the proposed system of standards.

FORBES: Memo to New SEC Chief: Ask the FAA How to Stop the Next Flash Crash