Tuesday, February 8, 2011

The said "moral bankruptcy" of Goldman Sachs and the likes of it & "a global financial levy"

The former British Prime Minister Gordon Brown once mentioned "a global financial levy" for banks and financial institutions. I wonder how well the actual implementation of it goes worldwide. I believe many people are watching that.

Take this as at http://goo.gl/QrekV:

Mr Brown said: "We need a global financial levy for the banks, we have to quash remuneration packages such as Goldman Sachs. I cannot allow this to continue. 
"Everything I find out convinces me we've got to go in deeper and I believe I'm the man to go in and deal with these problems with the banks." 
Last week Mr Brown said he made a "mistake" when he acceded to call for lighter regulations on financial institutions during his years as chancellor. 
Today he said: "Every time I moved on regulation I had people saying this is ridiculous - deregulation is the only way forward. I accept we didn't know what was going on inside independent companies. 
"The banks have let us down. There is a moral bankruptcy reflected in what I've been reading about and hearing out. I want a special investigation." 
Mr Brown added: "The banks are a risk to the economy. We've got to make sure they behave in a proper way. We've got to do it at an international level. We need agreement about what we need to do. A new global constitution for the banks is a big issue."

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