Gordon Brown has 'vowed to force banks to put their off-balance sheet liabilities into their books.'
He'll have to tackle the unregulated offshore secrecy space as well if he's to have any success. As I said in the TJN submission to the UK House of Commons Treasury Committee on Offshore Financial Centres in June this year, tax havens "deliberately set out to undermine the impact of legislation passed in other jurisdictions" and to make things appear other than they are. This is the core business of offshore. If regulation is to work, such obstacles must be removed.
I hope he's up to it.
Someone has to be.