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The Guardian (Free subscription) | yesterday
Callum McCarthy becomes the latest regulator to change sides, moving to private equity firm specialising in distressed banks Sir Callum McCarthy, former head of the City regulator, the Financial Services Authority, has joined a US private equity group that specialises in buying distressed banking assets. McCarthy, who joined the FSA from energy regulator Ofgem in 2003, stepped down last September...
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Left Foot Forward (Free subscription) | 23/11/2009
Adair Turner has today joined his colleague, Hector Sants, in questioning the wisdom of George Osborne's policy to scrap the Financial Services Authority. Turner is Chair, and Sants is Chief Executive, of the FSA. Speaking to Sky News about the policy, Turner said: "The Conservatives have said that they will combine the ...
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Bill Totten's Weblog (Free subscription) | 19/11/2009
by Dani Rodrik project-syndicate.org (2009) Something happened in late August that I never thought I would see in my lifetime. A leading policymaker in the Anglo-American empire of finance actually came out in support of a Tobin tax - a global tax on financial transactions. The official in question was Adair Turner, the head of the United Kingdom Financial Services Authority, the country's chief financial...
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A WORLD TO WIN www.aworldtowin.net (Free subscription) | 17/11/2009
Arguments are flying to and fro between the experts, as the fallout continues from capitalism’s biggest crisis in living memory. The greatest issue preoccupying them is this: is it possible to tame or control today’s global economy and its financial markets by forms of legal regulation? Most critics and politicians from establishment figures such as Bank of England governor Mervyn King...
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Home Heating Guide (Free subscription) | 13/11/2009
Adair Turner, Chairman of the UK Government’s Climate Change Commission, announced on Wednesday the recent fall in carbon emissions must not be seen as a sign that everything is on course, as the economic recession is thought to be chiefly responsible. Moreover, Adair Turner suggested in order to meet the UK Government’s plans to reduce [...] Related posts: Tories Plan to Introduce ‘Green...
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Arts Alerts (Free subscription) | 12/11/2009
News Alert 12 November 2009 Company: Royal Bank of Scotland Group PLC (RBS:LSE) Frequency: Immediately November 12, 8:40pm Tories must find a way to save Turner for the nation Hector Sants fears there could be a regulatory "turf war" if responsibility for enforcement activity is split. There's a simple way for him to limit the damage: grab a large chunk of the turf. That is one (uncharitable)...
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The Guardian (Free subscription) | 12/11/2009
Fifteen grand to green my home, Adair? Yeah, right: a new boiler blew half that. Beating climate change is complex and costly A £15,000 price tag to green your home ? You have to be joking. That headline had me spluttering into my cornflakes as I eyed uneasily the pile of bills for home-greening on my kitchen sideboard. When are we going to have a grown-up conversation in this country about...
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Connecting the Dots in the New World Order (Free subscription) | 12/11/2009
The head of Britain's climate change watchdog predicted today that households will need to spend up to £15,000 on a full energy efficiency makeover if the government is to meet its ambitious targets for cutting carbon emissions. Warning that Britain needs to step up its efforts to reduce greenhouse gases after picking all the "low-hanging fruit", Adair Turner said radical steps would...
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The Guardian (Free subscription) | 10/11/2009
The head of Britain's climate change watchdog predicted today that households will need to spend up to £15,000 on a full energy efficiency makeover if the government is to meet its ambitious targets for cutting carbon emissions. Warning that Britain needs to step up its efforts to reduce greenhouse gases after picking all the "low-hanging fruit", Adair Turner said radical steps would...
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The Guardian (Free subscription) | 10/11/2009
Revenues at Barclays Capital are twice last year's but don't expect the bank to use the money to rebuild its capital Good profits, nice token dividend. So how much has been set aside for bonuses? Barclays, naturally, danced around this question . It has never disclosed the size of the bonus pool at the third-quarter stage in the past and it's certainly not starting now. But it doesn't require genius...
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The Guardian (Free subscription) | 10/11/2009
It doesn't take a genius to work out that the accrued bonus pool at Barclays Capital will be large Good profits, nice token dividend. So how much has been set aside for bonuses? Barclays, naturally, danced around this question . It has never disclosed the size of the bonus pool at the third-quarter stage in the past and it's certainly not starting now. But it doesn't require genius to work out that,...
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The Guardian (Free subscription) | 10/11/2009
Gordon Brown has added to the momentum pushing for a tax on global financial transactions. But the battle is far from won Gordon Brown's statement of support for a tax on global financial transactions is a welcome call on the banks to repay their debt to society. It is also a victory for the international Tobin tax movement, which has laboured hard for this moment over many years. Our task now is...
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Three Score Years And Ten (Free subscription) | 10/11/2009
Here I am in ye old Parliamentary Days campaigning against Gordon Brown's refusal to support the Tobin Tax. This is what my fellow MPs thought about me banging on about the issue - Hansard 7 Nov 2001 : Column 264 The Secretary of State for Trade and Industry (Ms Patricia Hewitt): "....James Tobin seems to be rather sceptical about his idea, so we may have to rename the Tobin tax—[Hon. Members:...
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Social Europe Blog (Free subscription) | 09/11/2009
After writing back in September (see here) at my disappointment that Labour had failed to support Adair Turner’s call for a Tobin tax, I was delighted to see Gordon Brown endorse the idea at this weekend’s G20 summit in St. Andrews. The UK Prime Minister called for “a better economic and social contract between financial institutions [...]
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The Guardian (Free subscription) | 01/11/2009
David Nutt is the latest in a litany of advisers cast out. It points to a wider puzzle for politicians: how to import talent Here's a message to you all – scientists, medical experts, admirals, business folk, PR consultants, economists and anyone else approached by smiling ministers with the flattering thought that you might like to join Her Majesty's government as an adviser, a tsar or even...
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