The Globe and Mail reports in its Thursday edition that the top bosses of JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group and other major banks warned on Wednesday that capital hikes and other new rules will hurt lending and the economy during a Senate hearing that was otherwise sedate compared with recent years. A Reuters dispatch to The Globe reports that the industry has been waging a fierce campaign to kill the "Basel endgame" proposal, which overhauls how banks must calculate their loss-absorbing capital, and as regulators roll out fair lending and fee cap regulations, among other rules. The chief executive officers hoped to use the hearing as an opportunity to convince key moderate Democratic senators that the Basel rule, which is being led by the Federal Reserve, could stifle lending, hurting small businesses and consumers. It quickly became a battle of narratives, with many Democrats casting skepticism on the industry's complaints and accusing them of overemphasizing the risks, while Republicans and the CEOs stressed the potential adverse impact on a range of products and services, from green lending, commodities hedging and pension plan services, to Treasury market liquidity.