Robert Peston, you beauty:
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2009/04/making_banking_boring.html
let's make banking boring, all in favour of that. Collapse of the Anglo-Saxon model to be replaced by a more Franco-Germanic style with more state and less free markets. Good stuff, like it. Also the positive reception by many is positive. there are plently of doom and gloom merchants who can't stand anything to be good, but let's at least hope that this goes well and maybe we can have a better, more regulated capitalism going foward
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2 comments:
Doesn't increased regulation lead to lower profits and, hence, lower income from taxed bankers (who should, I agree, lose the availability of tax havens) ?
JMac
I don't think so. Too often employers try all they can to force down prices, even sometimes to their own disadvantage. Those who pay more for a better service are penalised by competitors undercutting them and this sets the terms of reference at a more quality, rather than price, competitive environment. To say nothing of the moral arguments about letting free market capitalism run away with itself
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