The press cannot regulate itself

The main mass circulation UK newspapers have set up IPSO to regulate themselves. Everyone else wants something independent of the newspapers to regulate the industry. The main alternative proposal is Impress, supported by Max Mosley and the Rowntree Trust.

The newspapers say that if anyone else controls them it could mean the end of press . . . → Read More: The press cannot regulate itself

Brexit after Brexit

Now that Brexit is on its way, everyone is trying to work out what it means. I believe the most profound implications are not about the re-configuration of the UK’s political parties, or the length of time withdrawal may take, or the possible economic impact – or even the fragmentation of the United Kingdom.

The . . . → Read More: Brexit after Brexit

What's wrong with finance?

Why are there so many scandals within the finance sector? From the many news reports the banking, finance and insurance sector across the world seems rife with malpractice.

Insurance seems to be commonly mis-sold – to those who don’t need it and to those who don’t care enough to shop around at the end of . . . → Read More: What's wrong with finance?

Paying for purity with disaster

Money laundering is a bad thing – it supports crime and terrorism. And the banks’ payments payments systems are the soil in which money laundering can grow. So Barclays has decided to close the accounts of 100 of the money transmission businesses that transport remittances from the UK to Somalia through accounts with Barclays. No . . . → Read More: Paying for purity with disaster

Royal Charters: the way forward for voluntary self-regulation?

It looks like the new UK press regulation regime will both be voluntary and have teeth. It will have the power to impose significant sanctions on those who break their own rules.

So why can’t other industry sectors adopt this approach – alcohol production, gambling and retailing perhaps? At the moment, where self-regulation exists at . . . → Read More: Royal Charters: the way forward for voluntary self-regulation?

2013: the difference between hope and expectation is 20 years

What hope can we hold for 2013?

I think the most profound change we can hope for is that the recent growth in awareness of sustainability becomes real, rooted and universal.

Read my hopes and expectations, and the difference between the two on the Guardian blog.

Making corporate responsibility personal responsibility

Taking personal reponsibility for bank failure is one way the size of banks could be limited. And according to the director of financial stability at the Bank of England, there might be a need to do so.

One way to limit both company size and appetite for risk is to tie the fortunes of directors . . . → Read More: Making corporate responsibility personal responsibility

The UK is not on the Pacific rim – but it could soon be…

The USA and countries on the Pacific rim are negotiating a new trade agreement under conditions of great secrecy. The Trans-Pacific Partnership (TPP) seems to favour trade interests above those of national governments. There are numerous problems with the intent of the TPP from giving up democratic rights to a non-democratic body to lowering sustainability . . . → Read More: The UK is not on the Pacific rim – but it could soon be…

Barclays over the edge

What happened to the corporate citizenship that Barclays was proclaiming back when LIBOR was being corrupted? Even the Chancellor has taken Barclays to task for manipulating the crucial LIBOR interest rate. “Through 2005, 2006 and early 2007 we see evidence of systematic greed at the expense of financial integrity and stability and they knew what . . . → Read More: Barclays over the edge

Responsibility for Europe

Europe teeters on the edge of the Eurozone and markets thrash. So whose fault is it?

Is it the fault of those who cannot pay back their loans (poorer countries like Greece)? Or of those who made them in the first place (richer countries like Germany and investors in debt)? No doubt both sides are . . . → Read More: Responsibility for Europe