‘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.
Posted: 26 Sep 2009 06:07 AM PDT It is easy to dismiss the G20 communique and all the associated spin as empty waffle. Ask people in a month what was accomplished in Pittsburgh and you'll get the same blank stare that follows when you now ask: What was achieved at the G8 summit in Italy this year? (more…)
Posted: 25 Sep 2009 05:25 AM PDT The IMF Should Move To Europe The headline news from the G20 summit in Pittsburgh is that progress has been made on "IMF reform," meaning increased voting power for emerging markets relative to rich countries - remember that West Europeans are greatly overrepresented at the IMF for historical reasons. But [...]
Posted: 24 Sep 2009 12:50 PM PDT On Thursday evening and all day Friday, heads of government from countries belonging to the G20 will meet in Pittsburgh. On paper, this looks important – 90 percent of world economic output and 67 percent of world population will be at the table: the G7 (US, Canada, Japan, UK, Germany, France, and Italy), [...]
Posted: 29 Sep 2009 04:54 AM PDT Strong advocates of our new G20 process are convinced that it will bring legitimacy to international economic policy discussions, rule-making, and crisis interventions. Certainly, it's better than the G7/G8 pretending to run things - after all, who elected them? (more…)
Posted September 22, 2009 Almost one year after financial market turmoil triggered a financial and economic crisis in the countries of the European Union (EU), many reforms of the financial sector are still not in place and destabilising practices are continuing. Download the PDF.
Call on G20 leaders: Greater social investment and more liquidity without policy conditionalities is the way to deal with the crisis in developing countries.
SEPTEMBER 23, 2009 (PITTSBURGH, USA): The two major South-based international civil society networks Social Watch and Third World Network have jointly called on G-20 leaders to address and pledge to greater social and development investment and to enact a more thorough restructuring of the international financial institutions (IFIs). A deeper [...]
Click here for the September 2009 headlines...
The Baseline Scenario Protect Consumers, Raise Capital, And Jam The Revolving Wall St-Washington Door Posted: 20 Sep 2009 04:32 AM PDT Ben Bernanke has a great opportunity to lead the reform of our financial system. His standing in Washington and on Wall Street is at an all-time high, as a result of his bailout/rescue efforts. He is about [...]
Newsletter No. 26 - September 2009 The full Newsletter can also be viewed at www.jamesrobertson.com/news-sept09.htm.
Why Didn’t The Major Bank CEOs Show Up On Monday? Posted: 17 Sep 2009 10:44 AM PDT Speaking on Wall Street at noon Monday, President Obama laid blame for the crisis and recession of 2008-09 squarely at the feet of the financial sector. The diagnosis was sound but the rest of his speech was disappointing – the administration’s draft [...]