Posts Tagged ‘Financial regulation’

The Banking Reform Act is rearranging the deck chairs on the neoliberal Titanic

by Prem Sikka.

Some six years after the banking crash, the UK has wheeled out its answer – the Banking Reform Act. Some deckchairs have been rearranged, but little attention has been paid to the key drivers of the crisis. The biggest financial crisis has coincided with the rise of neoliberalism, which emphasised faith in free markets and light-touch […]

Watchdogs? More like dormice! Time to make them sackable

by Michael Meacher.

Two contemporary cases highlight perfectly how accountability has become a byword for impunity. It is almost incredible that Paul Flowers, the disgraced former chairman of the Co-op Bank, was appointed after one 90-minute interview, even though he was a financial illiterate (he estimated the bank’s asset base at £3bn when actually it is £47bn) and […]

Animal spirits in the stockmarkets don’t add up to economic recovery in the real world

by Michael Meacher.

There is an extraordinary combination at the start of 2014 of souped-up credit markets and an anaemic economy. The urge to talk up the economic recovery after so many false starts has turned the heads not only of investors but also of the economic commentators who show the same herd instinct of prophesying long-term continuing […]

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