Finance
Vince Cable’s banking tax doesn’t help anyone
Vince Cable wants banks to pay 10% on their profits to raise £2bn. But this new tax is the wrong option and won’t work.
New challenge to Osborne’s FSA plans
The US is considering moving regulatory powers from the central bank to an independent financial regulator. This is at odds with George Osborne's approach.
Goldman Sachs chief: “I’m just a banker doing God’s work”
The chairman and CEO of Goldman Sachs, in an extraordinary interview with the Sunday Times, says he is doing “God’s work” and serves a “social purpose”.
Two-thirds in favour of bank windfall tax
A new ComRes poll for the Independent shows overwhelming public support for a windfall tax on the banks. But in their coverage, the Independent made no mention of the finding, which is at odds with their columnist Bruce Anderson.
Osborne’s banking proposals just “populist headline-grabbing” says analyst
A leading analyst has described George Osborne's proposals on bankers’ bonuses as “populist headline grabbing”.
Lack of wealth creation means bankers should not become “indecently rich”
Bruce Anderson is wrong to claim that without rich bankers, we would all be poorer. Banking activity is not in the game of pure wealth creation but instead, the City operates as a giant, informal cartel charging what most independent observers believe to be excessive fees.