Written By: - Date published: 7:13 am, February 2nd, 2011 - 11 comments
In America a federal enquiry has now confirmed what we already knew. The 2008 financial crisis was an “avoidable” disaster caused by multiple failures of regulation and good old fashioned greed. If we don’t make some fundamental changes it is all going to happen again…
Written By: - Date published: 10:19 am, April 8th, 2010 - 38 comments
George Monbiot writes: It’s a bitter blow. When the government proposed a windfall tax on bonuses and a 50p top rate of income tax, thousands of bankers and corporate executives promised to leave the country and move to Switzerland(1,2). Now we discover that the policy has failed: the number of financiers applying for a Swiss work permit fell by 7% last year.
Written By: - Date published: 8:26 am, October 13th, 2009 - 79 comments
You would have seen that Westpac was found to have undertaken the largest theft of tax money in New Zealand history. From 1998 to 2002, they hid $586 million in tax due to our government. Add about 6% interest a year and the total they owe us is $961 million. My problem is that the …
Written By: - Date published: 4:15 pm, February 9th, 2009 - 9 comments
President Obama wants to set US$500,000 as the top pay for banking executives whose firms accept government bailout money. From Boing-Boing: The lead story in today’s New York Times Styles section is all about the tremendous difficulties that executives at bankrupt companies receiving public bailouts will face if their salaries are capped at only $500,000. For example, …
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