‘Reforming Global Finance’
News, opinion, proposals for reforming finance at global and national levels. Tracks new laws to curb speculative finance, transaction taxes and how financiers caused the collapse of 2008-9. News on monetary-systems reform of the Federal Reserve, IMF, World Bank, BIS and central banks.
As the Lehman anniversary approaches, defenders of the financial sector struggle into position - partly in response to your comments also here). They offer three main points: 1. We need finance to make the economy work. 2. Financial innovation delivers value, although it's not perfect (but what is?) 3. Don't [...]
Main issues addressed: Global economic outlook and short-term policy response to the financial and economic crisis International monetary reform to complement stricter financial regulation Climate change mitigation as a process of structural change Click for the report...
Another case of High Frequency Trading! Call the cops : theSEC and the CFTC ! This NY Times article forwarded by our colleague Howard Smith, Thanks, Howard" Hazel Henderson, editor September 4, 2009 By LANDON THOMAS Jr. LONDON - Its superfast, supersecret oil trading software was called the Hammer. And if the Commodity Futures [...]
Thanks to Simon Johnson for nailing the issue of why we need to downsize the financial sector . Hopefully, Simon will also support me and many others, now including Britain's head of their Financial Services Authority who just reiterated this need to downsize finance , reduce speculation , by , as a start , re-instating a small financial [...]
This has been an experiment in cooperating with the IMF on a topic that is hugely sensitive to the Executive Board Members themselves. For our part, New Rules has found the staff of External Relations professional, and helpful. Especially noteworthy were the translators and interpreters who made the videoconferences possible, and the [...]
by Ellen Brown, Web of Debt Sirs: This is in response to the entry posted on your American Monetary Institute blog on August 16, 2009, which references my articles on a state-owned bank solution to the credit crisis. I was disappointed to read that you thought my proposal was “an insult to humanity,” as the idea was actually drawn from the [...]
Brian Landever, Ethical Markets, Summer 2009. Emissions taxes- will we pretend to save the earth or actually do it? Does everyone realize what Goldman Sachs and other big investors are up to in the world's forests? It's rather terrifying. They are buying our air. I'm almost being literal. (more…)
Posted August 31, 2009 Foreclosures continue to soar, but the federal money that is supposed to help stem that financial wrecking ball is going to many of the same entities that produced the sub-prime mortgage debacle in the first place. And, not that many homeowners have actually been helped. Read the newsletter...
Posted: 29 Aug 2009 05:43 AM PDT The notion of a two-track economy seems to be taking hold. We kicked the concept around pretty well last week - your 130 comments (as of this morning) helped clarify a great deal of what we know, don't know, and need to worry about. The two-track concept overlaps with, and builds on, long-standing issues [...]
Posted August 28, 2009 On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal [...]