What is to be done with the banks? Radical proposals for radical changes
Weeks, John et al.http://cadtm.org/What-is-to-be-Done-with-the-Banks,13315
Date Written: 2016-04-13
Publisher: Committee for Abolition of Illegitimate Debts
Year Published: 2016
Resource Type: Article
Cx Number: CX19357
Nine years after the outbreak of the financial crisis that continues to produce damaging social effects through the austerity policies imposed on victim populations, it's time to take another look at the commitments that were made at that time by bankers, financiers, politicians and regulatory bodies. Those four players have failed fundamentally in the promises they made in the wake of the crisis – to moralise the banking system, separate commercial banks from investment banks, end exorbitant salaries and bonuses, and finally finance the real economy. We didn't believe those promises at the time, and for good reason.