The Libor scandal has once again highlighted the need for a comprehensive inquiry into our banking system. Support our call for a judicial inquiry by clicking below, signing the petition and sharing it with everyone you know.
The Good Banking Forum includes a unique range of leading figures from academia, finance, politics, the law, trade unions, consumer and civil society groups that are demanding real reform of the banking sector.
The Forum emerged from the Good Banking Summit, organised by nef (the new economics foundation) and Compass in May 2011. The Forum challenges the limited scope of the Independent Commission on Banking, will mobilise public pressure for ‘Good Banking,’ and is campaigning to break-up the banks as a necessary first step.
Archive for the ‘Government’ Category
Over the last two decades of “inflation targeting” policies, one of the last places to look for pragmatic economic policy were central banks. In answer to the question, in what country does the central bank have a growth focused mandate, most would answer, “there are none” or “beats me”. Yet, there is at least one. In Argentina the Ley Organicafor the central bank, passed by the houses of the legislature and signed by the president in March 2012, incorporates an unambiguous growth mandate. And if this does not make the central bank of Argentina unique, combining it with a woman as the Governor certainly so qualifies it.
The Taxcast is an upbeat 15 minute monthly podcast with the latest news, research and analysis of global events in tax evasion, tax avoidance and the shadow banking system. It features headlines, analysis with economist Richard Murphy of The Courageous State and a mini-documentary. The March episode is below.
In this video Josh Ryan Collins from the New Economics Foundation (nef) explains how money is created.
Since the launch of the ECCR report The Banks and Society: Rebuilding Trust in March 2011 members of ECCR West Midlands have met some of the bankers and academics in the region, as well as regional officers of the Bank of England. This paper reflects on some of the conversations held; however the views are those of the author alone and are offered as a contribution to the continuing discussion.
A new campaign has hit the headlines with the simple premise of encouraging those who believe that their banks are behaving unethically to move their deposits to a more ethical bank. More details at http://moveyourmoney.org.uk/
Below, Andrew Simms of the new economics foundation explains why we should back the campaign.
François Hollande, the candidate for the Socialist Party in France who is leading the opinion polls ahead of the presidential election this spring has used his opening speech of the election campaign to speak about the power of finance and the financial crisis, he said:
“The financial crisis has destabilized governments. The markets have gained universal rights, thanks to huge public debts. Europe cannot protect its currency against speculation. Our country faces record unemployment. It is sinking down into recession and austerity. Doubt is on the march. I see it every day. It weighs down Europe. It nurtures distrust of democracy itself”
You can read more of his speech at http://www.marketwatch.com/story/my-adversary-is-finance-french-candidate-says-2012-01-23?pagenumber=1
Banks avoid tax. That’s a matter of fact. They say they should. And they go out of their way to do so – and to help others do so as well.
It’s common knowledge that printing your own £10 notes at home is frowned upon by Her Majesty’s police. Yet there’s a small collection of companies that are authorised to create more new money than the counterfeiters have ever been able to print. In industry jargon, these companies are called “monetary and financial institutions”, but you probably know them by their street name: “banks”.
Lloyds Banking Group has named the Co-operative as its preferred choice to buy the 632 branches it is selling under European competition rules.
Surely good news for all who support a greater role for co-operative banking in the UK.