This, though, is an opportunity for global as well as domestic reform. In the past, any efforts at cracking down on tax havens, for example, has been stymied by the knowledge that the US and the UK were reluctant to play ball. One of the unintended consequences of the crisis is that it has legitimised coordinated global intervention. There is the chance to make finance once again the servant of the public, which is as it should be.
True. As was this comment:
Some measures look like no-brainers: the government should appoint a wider range of stakeholders, including customers and workers, to bank boards to ensure that there is no return to the clubby, you-scratch-my-back world of supine oversight by ineffective non-executive directors.