The FT has reported that:
Ben Bernanke on Thursday called on Congress to consider sweeping changes to financial regulation, including much tighter supervision of investment banks.
The Federal Reserve chairman, who was testifying before the House financial services committee alongside Hank Paulson, Treasury secretary, said legislators should look at “consolidated supervision” for investment banks, allowing regulators to [...]
The Executive Summary of Tax Havens: Creating Turmoil beings with a quotation:
We feel that this (lack of provision of an effective regulatory system) might be a grave omission, since it is notorious that this particular territory, in common with Bermuda, attracts all sorts of financial wizards, some of whose activities we can well believe should [...]
The Treasury Committee (TC) announced on 30 April 2008 that it had “decided to undertake an inquiry into Offshore Financial Centres, as part of its ongoing work into Financial Stability and Transparency” and asked for written evidence to be submitted .
Writing a 73,000 word submission was not on my agenda at the time. In fact, [...]
The IMF has issued a report on its web site today but which is dated 21 March 2008. It is entitled ‘ Liechtenstein: Assessment of Financial Sector Supervision and Regulation’. It forms part of the IMF’s regulatory review process. These are the reports which most tax havens use to claim that they are incredibly well [...]
Jersey Law firm BakerPlatt (who, I admit I had never heard of) got themselves in Accountancy Age saying:
Having researched the background to some of the countries included, we question why countries that fall behind recognised international standards are on the list, whilst finance centres such as Jersey, the Bahamas and the Cayman are not.
I can [...]
What short selling has shown of late is that markets are their own worst enemy.
HBOS has been in trouble, but it’s not terminal. And yet it’s attempt to raise cash in the market has been severely impeded by the wholly irresponsible action of short sellers in the market - mainly hedge funds. They have ‘borrowed’ [...]
