Monday, October 31, 2011

Dan Davies, whose Crooked Timber blogpost spawned the Occupy Wall Street protests which in turn sparked protests across the country and globe, twatted:
Just spoken to a couple of lads from MF Global. Am therefore not in mood for another round of "the bankers have not suffered!", thaksveymuch
I think he has a point. Bear Stearns gone. Lehman gone. Wachovia gone. Merrill Lynch* gone. Washington Mutual (Woot!) gone. Etc.

Wolfgang Schäuble, the German Federal Minister of Finance who Henry Farrell and John Quiggin applauded here for "floating the idea of real fiscal integration and accompanying democratic reforms of the EU," has recently come out for the EU to take the lead on a Tobin tax** although some people are skeptical that it will ever happen.

Plus it's heavy metal to have an umlaut in your name.***

Somewhat related: the Economist editor Zanny Minton Beddoes suggested on Charlie Rose that the German public isn't as Tea Party/NIMBYish as we've been led to believe.

Update: Looks like there was some skullduggery at MF Global. According to news accounts, Corzine made a bad bet and got caught in the Swirling European Vortex of Doom.

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*Margin Call's director's father spent forty years at Merrill Lynch.
**Financial Transaction Tax
***Fake Onion article on the topic.

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