Monday, Feb 6th 2012
John Kay | The war on moral hazard begins at home
It is not possible for one country, even the US, to impose restructuring of the global financial system on its own, and not sensible to try. A business such as HSBC or Standard Chartered, which operates globally, can migrate if its lead regulator imposes burdensome [...]
Davy Stockbrokers nailed it: we’re not wealthy now, we never were. Though we had years of high income, private investment in the productive economy was ‘pitiful’, opting instead for property and construction. While productive public sector investment was higher, it was squeezed by fiscal policies which cut taxation - especially for those on high incomes [...]
There is plenty in the news today about Jim Flavin’s decision to step down as executive chairman of DCC, on the foot of :
“a new legal manoeuvre against the company by the official enforcer of corporate law, Paul Appleby, who wants the High Court to appoint inspectors to investigate how it sold a major stake [...]
