Why lay people don’t expect anything good from G20

If restoring global confidence relied on G20 efforts to fight tax evasion and control money market funds (MMFs), then the earth could end up being a totally unsafe and risky place. Who can deny that it is like that today? Tax evasion grows fast and the same is true for financial profiteering. This last development […]

The EU Commission lets money market funds continue the unholy game of banks

The European Commission adopted yesterday a proposal for measures on shadow banking introducing new but quite loose and thus ineffective rules and controls for money market funds (MMFs). This is a parallel financial system created by the major banks in order to avoid even the few controls and restrictions that the official banking system has […]