Orginal Dr. Doom

StevieJ

Would this work for the banking sector?

http://business.timesonline.co.uk/tol/business/columnists/article5950256.ece


Let me leave the last word to Albert Wojnilower, Wall Street’s original “Dr Doom”. His eight-point plan is pithy and sensible. 1: Abolish rewards for short-term gains. 2: Turn most financial firms back into partnerships – if partners carry the risk, watch their behaviour change. 3: Banks that accept insured deposits should be public utilities. 4: Short-selling is “anti-social” and should be banned (a move proposed by the former Labour minister Frank Field in a private member’s bill to be published tomorrow). 5: Severely restrict what the US mortgage guarantors, Fannie Mae and Freddie Mac, can insure. 6: If other countries choose to allow untrustworthy practices, don’t copy them. 7: Restrict damaging commodity-price speculation. 8: Take direct regulatory action to limit property bubbles. Growth depends on rewarding “long-term risk-taking, hard work and perseverance”, rather than “high-stakes short-term betting”, he says. That’s wisdom.
From The Sunday Times, March 22 2009

PasturesNew

Sounds good to me.

Generali

StevieJ wrote: »

Would this work for the banking sector?

http://business.timesonline.co.uk/tol/business/columnists/article5950256.ece


Let me leave the last word to Albert Wojnilower, Wall Street’s original “Dr Doom”. His eight-point plan is pithy and sensible. 1: Abolish rewards for short-term gains. 2: Turn most financial firms back into partnerships – if partners carry the risk, watch their behaviour change. 3: Banks that accept insured deposits should be public utilities. 4: Short-selling is “anti-social” and should be banned (a move proposed by the former Labour minister Frank Field in a private member’s bill to be published tomorrow). 5: Severely restrict what the US mortgage guarantors, Fannie Mae and Freddie Mac, can insure. 6: If other countries choose to allow untrustworthy practices, don’t copy them. 7: Restrict damaging commodity-price speculation. 8: Take direct regulatory action to limit property bubbles. Growth depends on rewarding “long-term risk-taking, hard work and perseverance”, rather than “high-stakes short-term betting”, he says. That’s wisdom.
From The Sunday Times, March 22 2009

Removing limited liability for banks, accountants and law firms would concentrate minds.

It's only recently that LLPs have been allowed to be set up. They were always ridiculous IMO.