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...of reformers behind this:
Bill Black
Frank Partnoy
Elliot Spitzer
... with some colour and outrage supplied by Yves at Naked Capitalism
... and the best thing is 80 % of the entity is controlled by the taxpayer... turn the screws and get some answers!!!!:
http://www.nakedcapitalism.com/2009/...lications.html
Yves' commentary highlights how outrageous and ultimately shallow the pro-business bias is in the Anglo world.
Taking UBS as an example, it would appear that, in a mature business culture such as Switzerland there is some shame associated with being forced onto the shoals of tax-payer support, some pride, I suppose, in private enterprise. Thus there is some leverage over the institutions seeking help: explain how you made the mistakes that brought you here and why your travails should matter to us, the nation.
I really think the lack of an ideological support for a strident defense of taxpayer's interests (in the bailouts) is the mirror image of a corrupted private sector which sees government as the "cut-out" that makes plundering the tax base of the nation possible. In other words, when your public representatives spout a pro-business agenda you know that private interests have found a better "business" model than "private enterprise."
My favourite quote about politics: "What's the point of having a constituency if you can't sell them out." Harold Wilson
Bill Black
Frank Partnoy
Elliot Spitzer
... with some colour and outrage supplied by Yves at Naked Capitalism
... and the best thing is 80 % of the entity is controlled by the taxpayer... turn the screws and get some answers!!!!:
http://www.nakedcapitalism.com/2009/...lications.html
Yves' commentary highlights how outrageous and ultimately shallow the pro-business bias is in the Anglo world.
Taking UBS as an example, it would appear that, in a mature business culture such as Switzerland there is some shame associated with being forced onto the shoals of tax-payer support, some pride, I suppose, in private enterprise. Thus there is some leverage over the institutions seeking help: explain how you made the mistakes that brought you here and why your travails should matter to us, the nation.
I really think the lack of an ideological support for a strident defense of taxpayer's interests (in the bailouts) is the mirror image of a corrupted private sector which sees government as the "cut-out" that makes plundering the tax base of the nation possible. In other words, when your public representatives spout a pro-business agenda you know that private interests have found a better "business" model than "private enterprise."
My favourite quote about politics: "What's the point of having a constituency if you can't sell them out." Harold Wilson
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