10. März 2009

EU banks on insiders to fix the financial crisis

As I just said in German, a new report from CEO, SpinWatch, Friends of the Earth Europe and LobbyControl takes a look at the members of the High Level Group on the financial crisis set up by the Council and the Commission to write recommendations for a response to the crisis. The report finds the composition to be a clear example of corporate capture. Of the eight men in the group, four are closely linked to financial giants like Goldman Sachs and bankrupt Lehman Brothers, a fifth was responsible for UK Financial Services Authority whose supervision of British bank Northern Rock failed miserably.
Read the new report "Would you bank on them?" and the accompanying press release by Corporate Europe Observatory (CEO).
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