The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
And banks are special, but Carnegie was and is the typical kind of noxious bank that should be regulated away.
Carnegie Investment Bank - Wikipedia, the free encyclopedia
Carnegie Investment Bank AB is a Swedish company which specialises in stockbroking, investment banking and asset management.
Remember the crucial notion of the Glass-Steagall Act
In the nineteenth and early twentieth centuries, bankers and brokers were sometimes indistinguishable. Then, in the Great Depression after 1929, Congress examined the mixing of the "commercial" and "investment" banking industries that occurred in the 1920s. Hearings revealed conflicts of interest and fraud in some banking institutions' securities activities. A formidable barrier to the mixing of these activities was then set up by the Glass Steagall Act.
While stockholders were wiped out, did not managment by and large stay? As I remember it, the CEO was the only one who had to go and he was replaced by his right hand. So they saved the managment and the careers of the upper echelon in the company. Probably people they had good relations to as this was the go-to bank for privatisations.
Anyway, my critique was mainly centered on handling this crises in a way that did not show any realisation of the systematic problems. Thus, I do not think any such action should be expected during the swedish presidency.
Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
by Oui - Jun 30 20 comments
by IdiotSavant - Jun 24 16 comments
by Oui - Jun 25 44 comments
by IdiotSavant - Jun 16 16 comments
by Frank Schnittger - Jun 15 14 comments
by Frank Schnittger - Jun 10 15 comments
by Bernard - Jun 6 23 comments
by Frank Schnittger - Jun 6 4 comments
by Oui - Jul 3
by gmoke - Jul 2
by Oui - Jun 3020 comments
by Oui - Jun 30
by Oui - Jun 296 comments
by Oui - Jun 2729 comments
by Oui - Jun 2544 comments
by IdiotSavant - Jun 2416 comments
by Oui - Jun 2310 comments
by gmoke - Jun 22
by Oui - Jun 20
by Oui - Jun 1916 comments
by asdf - Jun 184 comments
by Oui - Jun 184 comments
by IdiotSavant - Jun 1616 comments
by Frank Schnittger - Jun 1514 comments
by Oui - Jun 1311 comments
by Oui - Jun 1240 comments
by Frank Schnittger - Jun 1015 comments