The banking system is reeling from admissions by senior bankers that they acted in concert with other bankers to fix the setting of the interbank interest rate (LIBOR), so as to make dishonest profits. The BBC is running a series of shows on the culture of corruption that crept into
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CuriosityCat: The Anglo Tapes: Give us the %$%%$# moolah
The tapes that have started a firestorm this week in Ireland do more than reveal the attitudes of the senior bankers involved in the destruction of Ireland’s financial system during the 2008 financial meltdown. They also show why the recommendations of the UK Parliament on legal standards of conduct for
Continue readingCuriosityCat: President Hollande of France leads the way with a Tobin tax
At last we see a serious move in Europe to start the much needed process of reining in the many useless financial transactions that are part of the unregulated morass that landed us in the 2008 financial meltdown. James Tobin Hollande’s first budget is introducing a Tobin tax on trading
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