Tag: Banking Regulation

Drunk Driving on Wall Street

Real News Network’s Paul Jay talks with Sony Kapoor, Managing Director of Re-Define (Rethinking Development, Finance & Environment), an international Think Tank promoting financial system reform.

Kapoor metaphorically compares the actions of Wall Street and the US Finance Industry to the psychology of alcoholism and drunk driving, and the actions of the people charged with regulating the industry with the reactions of people in denial living with alcoholics, and concludes that another crash is likely inevitable.

Real News Network – October 14, 2010

Finance – Highway Robbers to Drunken Drivers

Sony Kapoor: Global finance system like a highway without police,

ready for another crash

(transcript below)

Banksters get Tagged in the UK, Only to Flee to, Guess Where?

Finally a Representative body, that knows WHO they work for …

Class war breaks out in the U.K.

The Labor government announces a tax on exorbitantly-paid bankers. American populists gnash their teeth in envy

By Andrew Leonard, Dec 9, 2009

Unsurprising headline of the year: “U.S. Probably Will Avoid Matching U.K. 50 percent Bonus Tax.”

Alistair Darling, the U.K. Chancellor of the Exchequer, announced the tax — aimed squarely at overpaid bankers


From Bloomberg:

“There are some banks who still believe their priority is to pay substantial bonuses,” Darling said in Parliament. “I am giving them a choice. They can use their profits to build up their capital base. If they insist on paying substantial rewards, I am determined to claw money back for the taxpayer.”

Paul Krugman says the move is “entirely reasonable.” Justin Fox asks, “why the heck not?” Felix Salmon says “well done.”

But don’t expect a repeat across the pond.


Interesting … maybe the People CAN Fight back?