(Community Matters) Why the heck doesn’t Britain fine Newscorp its 39% stake in British Sky Broadcasting Group for its criminal telephone hacking?
And – this just thinking out loud, Steven will probably correct me quickly why we wouldn’t want to do . . . but, should sovereigns consider outlawing professional speculation in sovereign debt? I don’t mean preventing owners from liquidating a position, but seems there could be too much gaming of the system going on. Yeah, I can hear the uproars and rationalizations about market liquidity. And, there was plenty of market liquidity before the extraordinary & sophisticated ways traders speculate today. Are their too many traders and banks making too much money from market volatility? We wouldn’t want appearances that they had any vested interest in instability. Romney’s contention that banks are people too notwithstanding, they are dependent on franchises from government and on public confidence. (Posted from my blackberry)
Community Matters 