Categories
commentary

Banking: a world where anything goes

The one thing we do not need is for our financial system to carry on as if nothing has happened.  But that is what bankers seem to want.

 The world has carefully unlearned the lesson of the great depression of the 1930’s and especially the separation of investment from retail banking as embodied in the Glass-Steagall Act in the US. From the 1980’s onwards, greater and greater de-regulation in all spheres of financial activities led to the permissive culture in which anything went. And in the financial crisis it nearly all went – down the drain.

With the US showing some leadership , and the UK being embarrassed into following, maybe there are some grounds for hope.

Categories
commentary

Pope's critics speak out

After the grief is the appraisal: how should the pope be judged? How should a religious leader demonstrate their accountability? Is God ‘just’ another stakeholder? Or do values, spiritual and otherwise, have a special place in relation to accountability? After the grief is the appraisal – and the choice of a new pope.

Categories
commentary

Global Accountability – no taxation without representation

Bush again. Why do I feel depressed? Perhaps because of the sense of powerlessness. After all there has been an election which will affect everyone in the world, but most of the world’s people haven’t been able to vote. And most of us will find Bush’s policies taxing, but we have no representation. And when was the last time you voted for someone at the UN?