maandag 2 november 2009

Het Neoliberale Geloof 478

Wall Street Follies: The Next Act
October 25, 2009, New York Times
http://www.nytimes.com/2009/10/25/weekinreview/25morgenson.html

Hoping, perhaps, to persuade a dubious public that curbing reckless
business practices is indeed a Washington priority, the Obama
administration and Congress produced a hat trick of financial reforms
last week. For all the apparent action in Washington, some acute
observers say that it was much ado about little. Last week’s moves,
they say, were tinkering around the edges and did nothing to prevent
another disaster like the one that unfolded a year ago. The white-hot
focus on pay, for example, looks like a way for the government to
reassure an angry public that they are making genuine changes. But
compensation is a trifling matter compared to, say, true reform of
derivatives trading. “The American public understands the
immorality
of paying people huge bonuses for failures that damaged the
economy,” said Michael Greenberger, a law professor at the
University of Maryland and a former commodities regulator. “What
they don’t understand is that those payments are only a small
fraction of the irregularities that took place and that, in essence,
the compensation problems, as bad as they are, are a sideshow to the
casino-like nature of the economy as it existed, pre-Lehman Brothers,
and as it exists today.” Regulating derivatives is far more
important to those interested in eliminating the possibility of future
billion-dollar bailouts. But the derivatives bill generated by the
House Agriculture Committee contains a sizable loophole. Many
derivatives would not trade in the light of day.

De Nederlandse commerciele massamedia zwijgen als het graf. Is te druk met Theo van Gogh bezig en Balkenende en naturlijk zichzelf.

Geen opmerkingen:

Peter Flik en Chuck Berry-Promised Land

mijn unieke collega Peter Flik, die de vrijzinnig protestantse radio omroep de VPRO maakte is niet meer. ik koester duizenden herinneringen ...