Tag Archives: mervyn king

Barclays and the Bank of England: BAD rate-rigging and GOOD rate-rigging

The Barclays rate-rigging scandal has conflated a number of issues — Bob Diamond’s bonus, ‘casino’ banking, failed regulators — making it hard to get behind the media’s shouty headlines to understand the issues which should really concern us. Here’s my brief show-your-working attempt, starting with what Barclays.

What Barclays did right: ‘fess up

LIBOR (London Inter Bank Offered Rate) is the rate at which banks in London lend money to each other for the short-term. It’s used as a proxy measure of market confidence in individual banks, as well as a benchmark for setting mortgage interest rates.

Barclays has admitted filing misleading …

Posted in Op-eds | Also tagged , , , , , , , , , and | 15 Comments

Opinion: Land Value Tax – an old idea with lots of modern supporters

Adam Smith in the Wealth of Nations (1776) was an early proponent of land taxes as was that great radical Tom Paine.

John Stuart Mill was an advocate and Henry George put the case in ‘Progress and Poverty’ (1879).

The economist David Ricardo gave us the concept of economic “rent” – that land or property derives its value from scarcity rather than investment.

In the debates before and after the peoples budget of 1909 both Winston Churchill and David Lloyd George argued strongly for the introduction of a land tax.

The economists John Kenneth Galbraith and Milton Friedman recommended Land Value Tax (LVT) for …

Posted in Op-eds | Also tagged , , , , , , and | 258 Comments

Sharon Bowles named most influential Brit in global financial regulation

Sharon Bowles, Liberal Democrat Euro-MP for South East England, is the highest placed British person in the GFS Power 50 list of the most influential figures in global financial regulation.

Sharon BowlesThe list is voted on by readers of Global Financial Strategy, and Sharon Bowles came out twentieth due to her role as Chair of the Economic and Monetary Affairs Committee. This committee of MEPs has an important role in debating and amending European-wide financial regulation, including new rules on bank capital and bankers’ bonuses.

Sharon Bowles came ahead …

Posted in Europe / International and News | Also tagged , , and | 3 Comments

Daily View 2×2: 30 March 2010

Today just 2250 years ago, the first sighting of what we now know as Halley’s Comet was recorded Eric Clapton becomes eligible to draw his pension, whilst it’s also ‘Happy Birthday’ to fellow sexagenarians Robbie Coltrane (60), Eddie Jordan (62) and Mervyn King (63).

Once this day in 1978, the Conservative Party announced it had recruited advertising agency Saatchi & Saatchi to revamp its image and get its political message across ahead of the General Election. Politicians both within the opposition and in Prime Minister Jim Callaghan’s government criticised the Tory stance, describing it as ‘frivolous’.

Fourteen years later we saw John Major climb onto his soapbox to urge voters in Cheltenham to elect John Taylor as their MP – a mission which resulted in the election of Lib Dem Nigel Jones.

Posted in Daily View and News | Also tagged , , , , , , , and | 3 Comments
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  • User AvatarMichael BG 6th Aug - 7:42pm
    Lozenzo Cherin, As Laurence Cox pointed out our constitution does reserve one elected place of the directly elected members if that number is over 10...
  • User AvatarDavid Raw 6th Aug - 7:40pm
    @ David Evans..... Sorry, typo... add on a millenium. 2019.
  • User AvatarDavid Raw 6th Aug - 7:39pm
    @ David Evans "just one query on your final sentence – “It was even worse in 1951”. In 1951 Liberals won just 6 seats (12...
  • User Avatarjohn 6th Aug - 7:02pm
    Assoc of Libdem Engineers & Science live leadership hustings now: https://www.youtube.com/watch?v=934B33TxZBM&feature=push-lbrm&attr_tag=_KnBjb6KVikG3dLF%3A6
  • User AvatarJohn 6th Aug - 6:59pm
    Whatever LibDems think of the relative merits of the alternative Borgs in Labour and Tories, the Tories have not shaken off any previous marginal tendencies...
  • User AvatarDavid Evans 6th Aug - 6:43pm
    David Raw, totally agree with your point with just one query on your final sentence - "It was even worse in 1951". Was it definitely...