What’s trending and why?
It’s usually foolish to look back into the past in the hope of finding some sort of mythical, halcyon “good old days”. They usually weren’t.
Heidemarie Schwermer, a German woman, has lived without money for 16 years. Doing odd jobs in return for food and clothes, Heidemarie claims it has made her happier and that money distracts us from what is really important. While an extreme example, I agree with her sentiment. Money does distract us and also scares us. And whilst I don’t think we could all live without money, I do think we could all change our attitude towards it.
I wasn’t expecting much on my way to the Occupy London demonstration in Paternoster Square in the City on Saturday, I have to confess. I wasn’t at all convinced that the global Occupy movement would gain any traction in a city as apathetic as London.
The trail-up on Facebook had been feverish enough, true, but Facebook [...]
Banks were on average paying out twice as much in bonuses to staff as they were paying out in dividends to shareholders in the boom years.
What I hoped to see from the Vickers report was an attempt to quantify the economic benefit of universal banking – both for customers and wider society – and also to estimate the costs of getting rid of it. But it’s simply not there.
What Bob Diamond and Stephen Hester failed to mention was that their giant mega banks are already guaranteed by the government because they are too big to fail.
The Independent Commission on Banking can’t have it both ways. If cross-subsidy of different banking operations in times of trouble is a good thing, why is the Commission recommending ring-fencing?
The Chancellor says that “Europe cannot repeat the same mistake” on banking stress tests. Yet Osborne himself seems to want more of the same.
Latest from Independent journalists on Twitter