It’s time to call the speculation that powered the GameStop surge what it really is: socially useless gambling that does more harm than good.
I have a new report out today, co-authored with Christine Berry, called 'Building a new public banking ecosystem'. The report was commissioned by the Communication Workers Union and The Democracy Collaborative.
This article was originally published at Civil Society Futures. Ten years ago the French bank BNP Paribas ceased activity in three hedge funds, announcing that it could no longer measure the value of instruments based on US subprime mortgages. The event is widely regarded as representing the beginning of the global financial crisis, as what … Continue reading Ten years after the crash, is civil society ready to take on big finance?
This article was originally published at openDemocracy. Few aspects of our economy are as poorly understood among politicians and the general public as our monetary system. This becomes particularly obvious – and dangerous – during general election campaigns. Last night Theresa May responded to a nurse’s concerns over pay in the NHS by saying “there is no magic money tree” … Continue reading There is a magic money tree – don’t let politicians tell you otherwise
Deregulation has been disastrous for our economy. We must not do it again.
The new 12-sided £1 coin launches tomorrow – the first change to the familiar design in more than 30 years. But there's more to money than physical cash.
In the New Statesman I argue that a tarnished symbol of global finance could be remade as a network of local banks.
During the presidential campaign Donald Trump championed himself as the only candidate willing to stand up to Wall Street. Three weeks into his presidency, however, and the reality looks rather different. Many of the most powerful and influential positions in his administration have been gifted to senior Wall Street insiders – most of them handpicked by Trump.
In the Guardian I argue that we need a new, decentralised banking system that invests in local initiatives to create jobs and industries in the regions that have been left behind.
On Sunday Italians go to the polls to vote on reforms to the country’s constitution. It has been speculated that the referendum, which has been championed by Prime Minister Matteo Renzi, could have far reaching consequences beyond Italy, threatening the stability of the European banking system and even the Eurozone itself.