A couple of “industries”, audit and management consultancy, which have deliberately entwined themselves round each other and called themselves ‘professional services’, have developed strongly monopolistic tendencies. The degree of industry concentration is truly remarkable: the four leading firms employ around 650,000 people, earn revenues of over US$100 billion, and take around 80% of the global [...]
The Financial Services Authority’s report on the collapse of the Royal Bank of Scotland is published this morning and this afternoon the Prime Minister will explain to parliament the reasons for last week opting out of some of the EU decision processes. The one, an examination of disastrous failing in the financial sector and the [...]
British Prime Ministers and their Chancellors are clearly in the pocket of the City of London, as regularly demonstrated by their red faced compliance at the Lord Mayor’s fancy dress functions. The politicians dutifully swear their allegiance. And they mean it, as Cameron recently showed by vetoing the Franco-German proposal for a timorous financial transaction [...]
Subscribe to Feed